# Oil settles up ahead of U.S. driving season, EU embargo decision

> Brent rose $2.03 to settle at $119.43 and WTI gained 98 cents to $115.07 on May 27. Prices were supported by strong fuel demand ahead of the US driving season while European nations negotiated an embargo on Russian crude.

- Date: 2022-05-27 · published 2022-05-27T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/41559-oil-settles-up-ahead-of-u-s-driving-season-eu-embargo-decision
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Firm crude and strong distillate demand keep diesel and freight costs elevated, supporting higher feed transport and processing costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-just-off-2-month-high-amid-global-supply-concerns-2022-05-27/

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