# Oil settles up more than 1% on China demand outlook, second weekly gain | Reuters

> Oil settled up about $1 a barrel on Friday for a second straight weekly gain, as China's economic outlook improved. Brent settled at $87.63 and U.S. crude at $81.31.

- Date: 2023-01-20 · published 2023-01-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37950-oil-settles-up-more-than-1-on-china-demand-outlook-second-weekly-gain-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Improved Chinese demand prospects lift crude and energy costs, which can pressure feed-mill and freight margins.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-climb-hopes-fed-slowing-interest-rate-hikes-2023-01-20/

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