# Oil prices settle 1% higher on tepid U.S. inflation data | Reuters

> Oil settled 1% higher as softer-than-expected US inflation data outweighed concerns about renewed COVID-19 curbs in China. The inflation data supported hopes the Federal Reserve would temper rate hikes. Brent settled at $93.67 and WTI at $84.67.

- Date: 2022-11-10 · published 2022-11-10T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of easing Fed policy support crude and a softer dollar, which lowers the cost of energy and imported inputs for feed.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-01-27 | [Renewed inflation worries help drive oil price rally \| Reuters](https://feedsoft.ai/events/26662-renewed-inflation-worries-help-drive-oil-price-rally-reuters.md) | -2.1% | -5.0% |
| BRENT | 2024-08-22 | [Oil prices settle $1 up on hopes of a US Fed rate cut next month \| Reuters](https://feedsoft.ai/events/28696-oil-prices-settle-1-up-on-hopes-of-a-us-fed-rate-cut-next-month-reuters.md) | +2.5% | -4.3% |
| BRENT | 2021-10-11 | [Oil settles up 1.5%; hits multi-year highs on surging demand \| Reuters](https://feedsoft.ai/events/44717-oil-settles-up-1-5-hits-multi-year-highs-on-surging-demand-reuters.md) | +3.0% | +0.4% |
| BRENT | 2026-07-23 | [Japan core inflation rate in June creeps up from 4-year low as higher oil prices bite](https://feedsoft.ai/events/18586-japan-core-inflation-rate-in-june-creeps-up-from-4-year-low-as-higher-oil.md) | -2.9% | -2.2% |
| BRENT | 2024-12-24 | [Oil prices up on US growth data](https://feedsoft.ai/events/27128-oil-prices-up-on-us-growth-data.md) | +3.1% | +9.8% |
| WTI | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.8% | -9.6% |
| WTI | 2025-01-27 | [Renewed inflation worries help drive oil price rally \| Reuters](https://feedsoft.ai/events/26662-renewed-inflation-worries-help-drive-oil-price-rally-reuters.md) | -2.8% | -5.2% |
| WTI | 2024-08-22 | [Oil prices settle $1 up on hopes of a US Fed rate cut next month \| Reuters](https://feedsoft.ai/events/28696-oil-prices-settle-1-up-on-hopes-of-a-us-fed-rate-cut-next-month-reuters.md) | +3.7% | +0.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-falls-fourth-day-china-covid-concerns-grow-2022-11-10/

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