# Oil traders eye Saudi Arabia's response in critical juncture for crude

> Brent crude touched $75 a barrel last week for the first time this year, extending a fifth weekly gain and adding to a near 40% year-to-date rise. WTI moved above $65 even as rising US stockpiles and production slowed momentum. Traders are watching whether Saudi Arabia and other major producers will raise output after the US ended Iranian sanction waivers.

- Date: 2019-04-30 · published 2019-04-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/59755-oil-traders-eye-saudi-arabia-s-response-in-critical-juncture-for-crude
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Crude is a major input to diesel and fertilizer costs for feed producers, and a sustained rally lifts freight and energy-linked expenses. Any OPEC response to offset lost Iranian barrels would cap prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/30/oil-traders-eye-saudi-arabias-response-in-critical-juncture-for-crude.html

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