# Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in 2Q

> Global oil and fuel prices rose as demand recovers in China, India and other markets after COVID lockdown easing. Gasoline prices in Asia, Europe and the US hit one-year highs and Brent topped $60 for the first time in a year.

- Date: 2021-02-01 · published 2021-02-01T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/48814-analysis-global-fuel-prices-jump-as-asia-u-s-to-rev-up-demand-in-2q
- 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

Rising demand and firmer fuel prices raise energy and transport costs for feed supply chains, though refiner response will vary by region.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-01-18 | [Oil prices rise on global demand forecasts, US crude stock draw](https://feedsoft.ai/events/32278-oil-prices-rise-on-global-demand-forecasts-us-crude-stock-draw.md) | +3.6% | +5.8% |
| WTI | 2021-10-22 | [Global Gas Prices are Soaring to Record Highs. Here's Why.](https://feedsoft.ai/events/11751-global-gas-prices-are-soaring-to-record-highs-here-s-why.md) | +0.2% | -4.4% |
| WTI | 2016-12-28 | [Diesel prices to start edging up in 2017 - Grainews](https://feedsoft.ai/events/73665-diesel-prices-to-start-edging-up-in-2017-grainews.md) | +0.2% | +0.5% |
| WTI | 2022-11-11 | [Oil jumps as China eases COVID curbs in potential boost to demand](https://feedsoft.ai/events/38851-oil-jumps-as-china-eases-covid-curbs-in-potential-boost-to-demand.md) | -5.6% | -17.9% |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| BRENT | 2024-01-18 | [Oil prices rise on global demand forecasts, US crude stock draw](https://feedsoft.ai/events/32278-oil-prices-rise-on-global-demand-forecasts-us-crude-stock-draw.md) | +3.5% | +5.9% |
| BRENT | 2026-10-25 | [Arab News \| Oman import prices jump 11 . 7 % as fuel costs surge](https://feedsoft.ai/events/990-arab-news-oman-import-prices-jump-11-7-as-fuel-costs-surge.md) | -1.7% | — |
| BRENT | 2022-11-11 | [Oil jumps as China eases COVID curbs in potential boost to demand](https://feedsoft.ai/events/38851-oil-jumps-as-china-eases-covid-curbs-in-potential-boost-to-demand.md) | -3.8% | -19.0% |

## Sources

- hydrocarbonprocessing.com: https://www.hydrocarbonprocessing.com/news/2021/02/analysis-global-fuel-prices-jump-as-asia-us-to-rev-up-demand-in-2q

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