# Oil prices rise on expectations of tightening market on supply risks, ETEnergyworld

> Brent rose to $76.51 and WTI to $69.11 on Tuesday as supply-disruption risks from Venezuela, Africa and Iran fed expectations of a tighter market. The IEA warned of further supply losses, especially from Venezuela, where output has been cut sharply by its economic crisis.

- Date: 2018-08-28 · published 2018-08-28T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/63701-oil-prices-rise-on-expectations-of-tightening-market-on-supply-risks
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected supply disruptions raise crude and diesel costs, which lift the cost of transport and processing for feed ingredients and support biofuel-linked vegetable oil prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-07-29 | [OPEC+ meeting on Aug. 3: Oil prices rise on tight supply \| Stock Market News](https://feedsoft.ai/events/40663-opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-stock-market-news.md) | -8.0% | -5.2% |
| WTI | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | -1.0% | +3.6% |
| WTI | 2024-03-25 | [Oil prices rise amid worsening geopolitical outlook and tighter supply \| The National](https://feedsoft.ai/events/31377-oil-prices-rise-amid-worsening-geopolitical-outlook-and-tighter-supply-the.md) | +4.1% | +3.2% |
| WTI | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.8% | +6.7% |
| WTI | 2023-03-28 | [Oil prices rise on Kurdish supply risks and banking relief \| Reuters](https://feedsoft.ai/events/37042-oil-prices-rise-on-kurdish-supply-risks-and-banking-relief-reuters.md) | +10.4% | +5.8% |
| BRENT | 2022-07-29 | [OPEC+ meeting on Aug. 3: Oil prices rise on tight supply \| Stock Market News](https://feedsoft.ai/events/40663-opec-meeting-on-aug-3-oil-prices-rise-on-tight-supply-stock-market-news.md) | -11.4% | -8.6% |
| BRENT | 2019-03-01 | [Oil prices rise as markets tighten due to OPEC supply cuts](https://feedsoft.ai/events/60286-oil-prices-rise-as-markets-tighten-due-to-opec-supply-cuts.md) | +0.0% | +2.2% |
| BRENT | 2024-03-25 | [Oil prices rise amid worsening geopolitical outlook and tighter supply \| The National](https://feedsoft.ai/events/31377-oil-prices-rise-amid-worsening-geopolitical-outlook-and-tighter-supply-the.md) | +1.9% | +2.3% |

## Sources

- energy.economictimes.indiatimes.com: https://energy.economictimes.indiatimes.com/news/oil-and-gas/oil-prices-rise-on-expectations-of-tightening-market-on-supply-risks/65570038

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