# Oil prices steady near two-year high as supply cuts bite

> Oil prices were steady to slightly firmer on Tuesday, with Brent at $61.18 and WTI at $54.21. Traders noted the wider WTI-Brent spread has drawn US crude exports up to nearly 2 million bpd.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/68632-oil-prices-steady-near-two-year-high-as-supply-cuts-bite
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The rise in US crude exports as the spread widens shows arbitrage flows, and these could limit further gains in crude prices. Energy costs for feed logistics remain firm.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Sources

- zeebiz.com: https://www.zeebiz.com/agencies/oil-steady-near-two-year-high-as-supply-cuts-bite-29882

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