# Brent holds above $70 on strong demand, OPEC-led supply restraint

> Brent crude held above $70 per barrel on a Monday, with WTI around $66.34. Prices were supported by OPEC and Russian supply cuts running through 2018, strong demand, and a weaker dollar.

- Date: 2018-01-29 · published 2018-01-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/67145-brent-holds-above-70-on-strong-demand-opec-led-supply-restraint
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher crude raises diesel and fertilizer costs and can support biofuel-linked vegetable oil demand, while a weaker dollar makes dollar-priced commodities cheaper for importers.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- zeebiz.com: https://www.zeebiz.com/world/news-brent-holds-above-70-on-strong-demand-opec-led-supply-restraint-35917

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