# Oil settles up but posts weekly decline on recession fears

> Oil settled up more than $3 a barrel on June 24, supported by tight supply. Prices still posted a second straight weekly decline on concerns that rising interest rates could push the world economy into recession. Brent settled at $113.12 and WTI at $107.62.

- Date: 2022-07-01 · published 2022-07-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/41111-oil-settles-up-but-posts-weekly-decline-on-recession-fears
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tight physical supply supports prices, but recession worries cap gains. The mixed signals leave the net energy price outlook for feed costs unchanged.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-tight-supply-inventory-uncertainty-2022-06-24/

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