# Oil on course to break $60 a barrel level | The National

> Industry executives said strong oil demand in emerging economies and Europe is drawing down stocks faster than expected. Brent rose to its highest since July 2015 after Turkey threatened to cut Iraqi Kurdish exports.

- Date: 2017-09-26 · published 2017-09-26T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69124-oil-on-course-to-break-60-a-barrel-level-the-national
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Tightening crude markets and backwardation raise energy costs for feed transport and processing, with knock-on effects for biofuel-linked vegetable oil prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-10-02 | [Oil Puts Rupee on Course to Outstrip Taper-Tantrum Losses - Bloomberg](https://feedsoft.ai/events/62811-oil-puts-rupee-on-course-to-outstrip-taper-tantrum-losses-bloomberg.md) | -1.1% | -8.8% |
| BRENT | 2018-04-26 | [Dealers see rupee breaching the 67 level. Here's why](https://feedsoft.ai/events/65793-dealers-see-rupee-breaching-the-67-level-here-s-why.md) | -0.9% | +7.2% |
| BRENT | 2016-12-05 | [The good oil on grain prices… - Grain Central](https://feedsoft.ai/events/73542-the-good-oil-on-grain-prices-grain-central.md) | -0.3% | +3.5% |
| BRENT | 2023-07-26 | [The increase in the price of oil led to an increase in the prices of gas and nitrogen fertilizers](https://feedsoft.ai/events/7009-the-increase-in-the-price-of-oil-led-to-an-increase-in-the-prices-of-gas-and.md) | +1.9% | +1.0% |
| BRENT | 2024-04-04 | [Brent Oil Futures Hit $90 a Barrel for First Time Since October - Bloomberg](https://feedsoft.ai/events/30897-brent-oil-futures-hit-90-a-barrel-for-first-time-since-october-bloomberg.md) | +1.2% | -7.2% |
| WTI | 2018-06-28 | [Oil prices are high. So why is the Canadian dollar still so low? - National \| Globalnews.ca](https://feedsoft.ai/events/64754-oil-prices-are-high-so-why-is-the-canadian-dollar-still-so-low-national.md) | -3.7% | -6.5% |
| WTI | 2026-10-29 | [December Rate Hike Expectations and Expensive Oil: The Dollar Is Back on Top \| Investing.com](https://feedsoft.ai/events/17043-december-rate-hike-expectations-and-expensive-oil-the-dollar-is-back-on-top.md) | -2.3% | — |
| WTI | 2016-12-05 | [The good oil on grain prices… - Grain Central](https://feedsoft.ai/events/73542-the-good-oil-on-grain-prices-grain-central.md) | -0.4% | +1.3% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/oil-on-course-to-break-60-a-barrel-level-1.661796

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