# Oil price jumps as Opec keeps output steady

> Brent crude rose about 3% to $81.16 a barrel, its highest since November 2014, after OPEC and Russia declined to raise output at the Algiers meeting. Traders see prices rising further as US sanctions on Iranian crude take effect in November.

- Date: 2018-10-01 · published 2018-10-01T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62929-oil-price-jumps-as-opec-keeps-output-steady
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher crude lifts diesel and freight costs and makes biofuel feedstocks more attractive, while strengthening the pressure on importing emerging-market currencies that buy grain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/business-45629425

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