# The Commodities Feed: Dovish Fed sees commodities rally | snaps | ING THINK

> US crude inventories fell 3.1 million barrels in the latest EIA week, more than expected, and refinery utilisation rose to 93.9%, the highest since January. OPEC+ will meet in Vienna on 1-2 July, and an extension of the production deal is widely expected. Gold rose after the dovish Fed signalled a possible rate cut.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower Fed rates weaken the dollar and lift commodity prices, while a likely OPEC+ extension supports crude; higher crude raises biofuel and energy costs for feed producers.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | +5.5% | +7.4% |
| WTI | 2021-09-27 | [The Commodities Feed: The power crunch spreads to the rest of the complex \| snaps \| ING THINK](https://feedsoft.ai/events/11976-the-commodities-feed-the-power-crunch-spreads-to-the-rest-of-the-complex-snaps.md) | +2.5% | +13.7% |
| WTI | 2023-04-12 | [The Commodities Feed: All eyes on US CPI \| articles \| ING THINK](https://feedsoft.ai/events/36345-the-commodities-feed-all-eyes-on-us-cpi-articles-ing-think.md) | -0.8% | -9.6% |
| WTI | 2025-05-08 | [The Commodities Feed: Markets disappointed as Fed remains on hold \| articles \| ING THINK](https://feedsoft.ai/events/24575-the-commodities-feed-markets-disappointed-as-fed-remains-on-hold-articles-ing.md) | +8.6% | +8.2% |
| WTI | 2021-03-03 | [Re-assessing the commodity-FX relation \| articles \| ING THINK](https://feedsoft.ai/events/12207-re-assessing-the-commodity-fx-relation-articles-ing-think.md) | +7.2% | +1.4% |
| BRENT | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | +5.7% | +7.0% |
| BRENT | 2021-09-27 | [The Commodities Feed: The power crunch spreads to the rest of the complex \| snaps \| ING THINK](https://feedsoft.ai/events/11976-the-commodities-feed-the-power-crunch-spreads-to-the-rest-of-the-complex-snaps.md) | +2.0% | +9.9% |
| BRENT | 2023-04-12 | [The Commodities Feed: All eyes on US CPI \| articles \| ING THINK](https://feedsoft.ai/events/36345-the-commodities-feed-all-eyes-on-us-cpi-articles-ing-think.md) | -1.5% | -10.2% |

## Sources

- think.ing.com: https://think.ing.com/snaps/the-commodities-feed-dovish-fed-sees-commodities-rally/

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