# MARKET WATCH: October Brent price settles above $60/bbl | Oil & Gas Journal

> Brent crude for October delivery rose nearly $1 on Aug. 28 to settle above $60 a barrel for the first time in a week, while WTI settled near $55.80. Analysts said the gains were fragile and vulnerable to negative US-China trade news. API and EIA data showed US crude inventories fell by about 10 million to 11 million barrels in the week ended Aug. 23.

- Date: 2019-08-29 · published 2019-08-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/57770-market-watch-october-brent-price-settles-above-60-bbl-oil-and-gas-journal
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Crude prices feed into diesel, freight and biofuel economics, which affect feed ingredient costs and the soyoil and corn ethanol outlook. The move is modest and the market is still range-bound, so the price impact for feed buyers is limited.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- ogj.com: https://www.ogj.com/general-interest/economics-markets/article/14039021/market-watch-october-brent-price-settles-above-60-bbl

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