# Oil prices climb, with U.S. benchmark holding at highest since 2014 - MarketWatch

> US crude oil rose to its highest settlement since November 2014, with August WTI up 69 cents to $73.45 a barrel. Traders cited the largest weekly decline in US crude stocks this year, U.S. sanctions on Iranian oil, and production problems at a Canadian oil sands facility. Natural gas prices fell after an upward revision to weekly storage data.

- Date: 2018-06-28 · published 2018-06-28T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64718-oil-prices-climb-with-u-s-benchmark-holding-at-highest-since-2014-marketwatch
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher crude and diesel costs raise freight, fuel and processing expenses across the feed chain and tend to lift biofuel-linked vegetable oil values. Continued Iran-related supply tightness could keep this support in place.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-08 | [Benchmark diesel price heads higher; so do world oil markets - FreightWaves](https://feedsoft.ai/events/30915-benchmark-diesel-price-heads-higher-so-do-world-oil-markets-freightwaves.md) | -1.4% | -9.5% |
| WTI | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +18.2% | +39.2% |
| WTI | 2019-09-16 | [Saudi oil attacks push prices up by highest amount since 1988 \| Oil \| The Guardian](https://feedsoft.ai/events/5711-saudi-oil-attacks-push-prices-up-by-highest-amount-since-1988-oil-the-guardian.md) | +5.8% | -0.1% |
| WTI | 2026-07-31 | [Oil prices settle more than 1% higher, log strongest month since March \| Reuters](https://feedsoft.ai/events/18519-oil-prices-settle-more-than-1-higher-log-strongest-month-since-march-reuters.md) | -7.4% | -0.3% |
| WTI | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -0.3% | -4.5% |
| DIESEL | 2026-08-25 | [Benchmark diesel price is now highest since war began - FreightWaves](https://feedsoft.ai/events/18072-benchmark-diesel-price-is-now-highest-since-war-began-freightwaves.md) | +5.3% | +16.6% |
| DIESEL | 2024-04-08 | [Benchmark diesel price heads higher; so do world oil markets - FreightWaves](https://feedsoft.ai/events/30915-benchmark-diesel-price-heads-higher-so-do-world-oil-markets-freightwaves.md) | -1.9% | -10.7% |
| DIESEL | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +10.8% | +24.3% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-prices-diverge-but-us-benchmark-holds-near-highest-since-2014-2018-06-28

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