# Oil Futures Gain on Bullish EIA Data, Fed's Taper Call

> Oil futures settled higher on September 22 after EIA data showed larger-than-expected crude and distillate draws as Gulf Coast refineries resumed operations. WTI rose $1.74 to above $72 a barrel, and Brent gained $1.83 after the Fed signalled it could begin tapering bond purchases.

- Date: 2021-09-22 · published 2021-09-22T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/45250-oil-futures-gain-on-bullish-eia-data-fed-s-taper-call
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Inventory draws and refinery restarts tighten near-term fuel supply, supporting diesel and freight costs. Fed tapering signals could also strengthen the dollar, a modest headwind for commodities.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2021/09/22/nymex-wti-adds-gains-stocks-fall

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