# Oil prices rise, hit 2-month highs on supply worries

> Oil prices rose on Sept 23 as Brent touched its highest level in more than two months, settling at $77.25. Growing fuel demand and a draw in US crude inventories supported prices while Gulf of Mexico production remained hampered after two hurricanes. OPEC+ members struggled to raise output.

- Date: 2021-10-01 · published 2021-10-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/45228-oil-prices-rise-hit-2-month-highs-on-supply-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Hurricane-hit Gulf output tightens crude and diesel supply, raising fuel and freight costs for grain and feed logistics. Higher energy prices can also lift biofuel feedstock demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-climbs-tight-supply-renewed-risk-appetite-2021-09-23/

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