# Oil gains 3% on global economic optimism, despite surprise U.S. crude build | Reuters

> Oil rose about 3% to a one-week high on Wednesday on hopes for an improved global economy, despite a surprise large build in U.S. crude stocks. Brent settled up $2.57 at $82.67 a barrel.

- Date: 2023-01-11 · published 2023-01-11T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37954-oil-gains-3-on-global-economic-optimism-despite-surprise-u-s-crude-build-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stronger global growth expectations lift crude prices, which raises energy and transport costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-slips-us-crude-fuel-inventories-reignite-demand-concerns-2023-01-11/

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