# Oil settles higher on strong crude demand, easing recession fears

> Oil prices settled higher on Thursday, extending the previous day's rally of nearly 3%. Traders were encouraged by record U.S. crude exports and signs that recession fears were easing.

- Date: 2022-10-27 · published 2022-10-27T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39279-oil-settles-higher-on-strong-crude-demand-easing-recession-fears
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Record U.S. export demand and easing recession worries support crude prices, which feed into energy costs for feed production, transport and fertilizer.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-continue-climb-strong-crude-demand-weaker-dollar-2022-10-27/

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