# Arab News | WEEKLY ENERGY RECAP: Tightening market confounds bears

> Brent crude settled above $60 a barrel and WTI rose to $55.11 in the week's recap, as crude balances tightened under OPEC+ cuts. US crude inventories fell to their lowest since last October, while US production hit a weekly record of 12.5 million bpd.

- Date: 2019-08-31 · published 2019-08-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/57748-arab-news-weekly-energy-recap-tightening-market-confounds-bears
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Tightening crude balances support energy input costs for feed mills and transport, though record US output and trade-related demand worries limit upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- arabnews.com: https://www.arabnews.com/business/weekly-energy-recap-tightening-market-confounds-bears-1547936

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