# Crude Oil Price Update – Strong Rebound on China Growth Hopes

> WTI April futures settled at $77.05 on Tuesday, up $1.37, on hopes for a strong rebound in Chinese demand. Russian output cuts gave some additional support, while worries about higher U.S. interest rates and rising U.S. supply limited gains. A Reuters poll showed oil expected to rise above $90 a barrel in the second half of 2023.

- Date: 2023-02-28 · published 2023-02-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37511-crude-oil-price-update-strong-rebound-on-china-growth-hopes
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected Chinese demand recovery and a forecast price rise above $90 would raise energy input costs and biofuel feedstock values over the coming months.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/crude-oil-price-update-strong-rebound-on-china-growth-hopes-1296447

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.