# Oil settles mixed after hitting 7-week high on strong China outlook | Reuters

> Oil settled mixed on Monday after touching a seven-week high on optimism about a recovery in Chinese demand as the economy reopens. Brent settled 56 cents higher at $88.19 a barrel, while WTI settled 2 cents lower at $81.62.

- Date: 2023-01-23 · published 2023-01-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37948-oil-settles-mixed-after-hitting-7-week-high-on-strong-china-outlook-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of stronger Chinese fuel demand support crude prices, which feed into diesel and energy costs for feed production and transport.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-fall-remain-buoyed-by-china-outlook-2023-01-23/

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