# Global trade upturn aids oil market rebalancing: Kemp

> Reuters columnist John Kemp says growing freight demand is helping rebalance the oil market and lift prices. He expects higher incomes in commodity-exporting countries and further freight and fuel demand growth in 2018.

- Date: 2017-09-27 · published 2017-09-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69114-global-trade-upturn-aids-oil-market-rebalancing-kemp
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Stronger trade volumes lift shipping and fuel demand, supporting crude and freight rates. Price implication is higher crude and ocean freight.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-02-14 | [Milestones on the oil market's road to rebalancing](https://feedsoft.ai/events/72673-milestones-on-the-oil-market-s-road-to-rebalancing.md) | +1.2% | -7.6% |
| BRENT | 2021-11-29 | [Canadian dollar rallies as air of calm returns to financial markets - The Globe and Mail](https://feedsoft.ai/events/44263-canadian-dollar-rallies-as-air-of-calm-returns-to-financial-markets-the-globe.md) | -3.1% | +4.8% |
| BRENT | 2020-11-09 | [OIL FUTURES: Oil prices surge as market eyes COVID-19 vaccine breakthrough \| S&P Global](https://feedsoft.ai/events/11792-oil-futures-oil-prices-surge-as-market-eyes-covid-19-vaccine-breakthrough-s-and.md) | +8.7% | +26.9% |
| BRENT | 2019-01-04 | [Dollar cycle may be about to turn, supporting oil prices: Kemp](https://feedsoft.ai/events/61292-dollar-cycle-may-be-about-to-turn-supporting-oil-prices-kemp.md) | +11.9% | +13.9% |
| BRENT | 2020-08-12 | [Daily Global Market Summary - 12 August 2020 \| S&P Global](https://feedsoft.ai/events/10686-daily-global-market-summary-12-august-2020-s-and-p-global.md) | +3.0% | -11.2% |
| WTI | 2017-02-14 | [Milestones on the oil market's road to rebalancing](https://feedsoft.ai/events/72673-milestones-on-the-oil-market-s-road-to-rebalancing.md) | +2.0% | -10.5% |
| WTI | 2018-07-07 | [Trade war, oil may keep rupee near record low](https://feedsoft.ai/events/64313-trade-war-oil-may-keep-rupee-near-record-low.md) | -3.7% | -7.2% |
| WTI | 2021-11-29 | [Canadian dollar rallies as air of calm returns to financial markets - The Globe and Mail](https://feedsoft.ai/events/44263-canadian-dollar-rallies-as-air-of-calm-returns-to-financial-markets-the-globe.md) | -11.3% | +1.0% |

## Sources

- reuters.com: https://www.reuters.com/article/world-economy-diesel-kemp-idAFL8N1M82U5/

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