# Oil up near 2-year highs, analysts see more US crude exports

> Brent settled up 47 cents to $61.37, near its July 2015 highs, and WTI rose to $54.38, near its highest since February. Both benchmarks gained over 5 percent in October as the US-Iran conflict continued to disrupt Middle East supply.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/68630-oil-up-near-2-year-highs-analysts-see-more-us-crude-exports
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude lifts diesel and energy costs for feed mills, transport and grain drying, and it can support biofuel-linked vegetable oil prices. Analysts expect a wider WTI discount to pull more US crude exports, which could cap gains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-10-26 | [Weak dollar, big U.S. crude exports buoy oil markets](https://feedsoft.ai/events/39037-weak-dollar-big-u-s-crude-exports-buoy-oil-markets.md) | +2.4% | -4.5% |
| BRENT | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +2.7% | +0.3% |
| BRENT | 2021-10-11 | [Oil settles up 1.5%; hits multi-year highs on surging demand \| Reuters](https://feedsoft.ai/events/44717-oil-settles-up-1-5-hits-multi-year-highs-on-surging-demand-reuters.md) | +3.0% | +0.4% |
| BRENT | 2017-12-11 | [Analysis: Currency strength boosts Asia's crude oil purchasing power](https://feedsoft.ai/events/67739-analysis-currency-strength-boosts-asia-s-crude-oil-purchasing-power.md) | -0.2% | +8.4% |
| BRENT | 2018-07-24 | [Crude oil market gets whiplash, investors should expect more volatility](https://feedsoft.ai/events/64202-crude-oil-market-gets-whiplash-investors-should-expect-more-volatility.md) | +2.4% | -2.2% |
| WTI | 2022-10-26 | [Weak dollar, big U.S. crude exports buoy oil markets](https://feedsoft.ai/events/39037-weak-dollar-big-u-s-crude-exports-buoy-oil-markets.md) | +2.6% | -6.1% |
| WTI | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +0.8% | -1.3% |
| WTI | 2021-10-11 | [Oil settles up 1.5%; hits multi-year highs on surging demand \| Reuters](https://feedsoft.ai/events/44717-oil-settles-up-1-5-hits-multi-year-highs-on-surging-demand-reuters.md) | +3.6% | +2.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/10/30/oil-markets-focus-on-opec-led-supply-cuts-tighter-market.html

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