# Crude Oil Prices Are Up 49%, and It’s Not All Thanks to OPEC

> North American benchmark crude futures have risen 49 percent since late June, reaching a three-year high. Analysts attribute the rise to OPEC cuts, the longest winter drawdown in US crude stocks in a decade, strong refining margins, frigid weather and robust foreign demand.

- Date: 2018-02-01 · published 2018-02-01T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/67148-crude-oil-prices-are-up-49-and-it-s-not-all-thanks-to-opec
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A sustained crude rally raises diesel and fertilizer input costs for feed producers and supports vegetable oil biofuel economics, though further gains may invite US shale supply growth.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-01-10/more-than-just-opec-underpins-49-surge-in-crude-oil-pricing

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