# Oil Prices for Dec. 01, 2020: Brent Crude, WTI - Bloomberg

> Oil extended losses after an API report showed a 4.15 million-barrel rise in U.S. crude stocks last week, against expectations of a decline. Futures fell toward $44 a barrel in New York, and gasoline and diesel inventories also rose.

- Date: 2020-11-30 · published 2020-11-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/50312-oil-prices-for-dec-01-2020-brent-crude-wti-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher U.S. crude and fuel stocks weigh on energy prices, which lowers the cost of diesel and freight and can reduce the appeal of biofuel feedstocks such as soybean oil.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-11-30/oil-declines-as-opec-struggles-for-consensus-on-output-plan

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