# U.S. crude turns positive, Brent pares losses on OPEC+ cut rumors | Reuters

> U.S. crude turned positive intraday while Brent briefly did too, but Brent settled down 44 cents at $83.19, after slumping to $80.61, its lowest since January 4, 2022. Traders were reacting to rumors about possible OPEC+ production cuts.

- Date: 2022-11-28 · published 2022-11-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/38864-u-s-crude-turns-positive-brent-pares-losses-on-opec-cut-rumors-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude prices reduce diesel and energy costs for feed mills and transport, but weaker energy prices can also weigh on biofuel-linked demand for vegetable oils and soyoil. Oilseed and meal values may soften in sympathy.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-drops-more-than-1-chinas-covid-protests-fuel-demand-worries-2022-11-28/

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