# Oil prices: OPEC supply cuts, US sanctions in focus

> Brent for June delivery rose to $68.01 and WTI to $60.46 on March 31, both having gained roughly 27–32% in the first quarter. The gains reflected OPEC and other producer supply cuts plus US sanctions on Iran and Venezuela, partly offset by global growth worries and the US-China trade war.

- Date: 2019-04-01 · published 2019-04-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/59756-oil-prices-opec-supply-cuts-us-sanctions-in-focus
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude raises diesel and fertilizer costs and can lift biofuel economics, supporting vegetable oil and corn demand. Analysts expect limited further upside given US shale response.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/01/oil-prices-opec-supply-cuts-us-sanctions-in-focus.html

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