# Oil prices climb as COVID recovery, power generators stoke demand

> Brent crude futures rose to about $85.45 a barrel, near their highest since October 2018, while WTI climbed to around $83.18. Gains were attributed to recovering COVID-era demand and power generators burning more oil.

- Date: 2021-10-18 · published 2021-10-18T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44714-oil-prices-climb-as-covid-recovery-power-generators-stoke-demand
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude lifts diesel and freight costs for feed mills and raises the energy-linked cost of fertilizer and transport, pressuring feed prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-climb-highest-years-covid-recovery-power-generators-stoke-demand-2021-10-18/

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