# Oil turns negative as OPEC eyes Russia suspension from output deal

> WTI crude settled at $114.67 a barrel, down 40 cents, after touching $119.98 earlier in the session, its highest since March 9. There was no settlement on the U.S. Memorial Day holiday Monday.

- Date: 2022-05-31 · published 2022-05-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/41557-oil-turns-negative-as-opec-eyes-russia-suspension-from-output-deal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Crude prices near $115 raise diesel and feed transport costs for buyers, and OPEC+ output decisions feed into energy-linked commodity costs.

## Read by commodity

- WTI: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-rise-after-eu-bans-most-russian-oil-imports-2022-05-31/

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