# Oil Futures Slip Ahead of Expiries After Thursday's Rally

> Oil futures softened in early trade on July 30 after a rally, with contracts on course for about 1% weekly gains on U.S. inventory draws. The dollar index fell to a one-month low after second-quarter GDP grew 6.5%, below expectations of 8.5%.

- Date: 2021-07-30 · published 2021-07-30T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/45973-oil-futures-slip-ahead-of-expiries-after-thursday-s-rally
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Crude draws and a weaker dollar support energy and commodity prices, which feed through to biofuel economics and feed input costs.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-25 | [Oil rises on US fuel demand, extends rally](https://feedsoft.ai/events/11408-oil-rises-on-us-fuel-demand-extends-rally.md) | +1.4% | +7.1% |
| WTI | 2018-10-24 | [U.S. oil prices up after sharp drop in fuel stocks \| Reuters](https://feedsoft.ai/events/12172-u-s-oil-prices-up-after-sharp-drop-in-fuel-stocks-reuters.md) | -0.4% | -19.7% |
| WTI | 2025-05-14 | [OPEC expects slower 2025 oil supply growth from rivals after price drop](https://feedsoft.ai/events/24854-opec-expects-slower-2025-oil-supply-growth-from-rivals-after-price-drop.md) | -1.7% | +6.3% |
| WTI | 2017-01-05 | [OPEC oil output falls from record high ahead of planned cuts - Reuters survey](https://feedsoft.ai/events/72911-opec-oil-output-falls-from-record-high-ahead-of-planned-cuts-reuters-survey.md) | -2.0% | +0.5% |
| WTI | 2019-11-14 | [Oil Rises on Signs of U.S. Supply Drop, OPEC’s Shale Outlook - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/56235-oil-rises-on-signs-of-u-s-supply-drop-opec-s-shale-outlook-energy-news-top.md) | -0.2% | +3.9% |
| BRENT | 2021-08-25 | [Oil rises on US fuel demand, extends rally](https://feedsoft.ai/events/11408-oil-rises-on-us-fuel-demand-extends-rally.md) | +2.9% | +4.0% |
| BRENT | 2025-05-14 | [OPEC expects slower 2025 oil supply growth from rivals after price drop](https://feedsoft.ai/events/24854-opec-expects-slower-2025-oil-supply-growth-from-rivals-after-price-drop.md) | -0.9% | +5.6% |
| BRENT | 2017-01-05 | [OPEC oil output falls from record high ahead of planned cuts - Reuters survey](https://feedsoft.ai/events/72911-opec-oil-output-falls-from-record-high-ahead-of-planned-cuts-reuters-survey.md) | -2.1% | +0.4% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2021/07/30/oil-futures-slip-ahead-expiries

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