# WTI Futures Rise on US Stimulus Progress

> Nearby WTI and Brent futures rallied on Monday, with WTI moving above $42 a barrel. The move followed reports of progress on US stimulus talks and stronger Chinese industrial and trade data, although US gasoline demand was weak.

- Date: 2020-08-10 · published 2020-08-10T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/51787-wti-futures-rise-on-us-stimulus-progress
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stimulus progress and firmer Chinese demand support the outlook for energy use, which tends to lift crude and fuel costs. Weak US gasoline demand limits how far prices can rise.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-10-30 | [Crude futures rise on ECB stimulus expectations, robust US economic data \| S&P Global](https://feedsoft.ai/events/50820-crude-futures-rise-on-ecb-stimulus-expectations-robust-us-economic-data-s-and-p.md) | +7.3% | +26.5% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |
| WTI | 2024-04-25 | [Oil Futures Up, Shake Off Weakness Spurred by GDP Surprise](https://feedsoft.ai/events/30914-oil-futures-up-shake-off-weakness-spurred-by-gdp-surprise.md) | -4.2% | -6.0% |
| 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 | 2021-02-02 | [Canadian dollar beats G10 rivals on rising U.S. stimulus hopes \| Financial Post](https://feedsoft.ai/events/48900-canadian-dollar-beats-g10-rivals-on-rising-u-s-stimulus-hopes-financial-post.md) | +8.2% | +11.5% |
| BRENT | 2020-10-30 | [Crude futures rise on ECB stimulus expectations, robust US economic data \| S&P Global](https://feedsoft.ai/events/50820-crude-futures-rise-on-ecb-stimulus-expectations-robust-us-economic-data-s-and-p.md) | +8.3% | +27.9% |
| BRENT | 2024-04-25 | [Oil Futures Up, Shake Off Weakness Spurred by GDP Surprise](https://feedsoft.ai/events/30914-oil-futures-up-shake-off-weakness-spurred-by-gdp-surprise.md) | -5.7% | -8.6% |
| 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% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/AG/news/world-policy/article/2020/08/10/wti-futures-rise-us-stimulus

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