# Oil up 3% on robust U.S. fuel consumption, tight supply outlook

> Oil gained about 3% on Thursday, with Brent settling at $96.59 and WTI at $90.50. Gains came on positive U.S. economic data and robust U.S. fuel consumption that offset worries about slowing growth elsewhere.

- Date: 2022-08-18 · published 2022-08-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/40198-oil-up-3-on-robust-u-s-fuel-consumption-tight-supply-outlook
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stronger U.S. fuel demand lifts crude prices, supporting biofuel economics and energy input costs for feed ingredients.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-ease-russia-output-increases-2022-08-18/

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