# Brent tops $50 a barrel for first time in six weeks | The National

> Brent rose above $50 a barrel on July 20 for the first time since early June after EIA data showed U.S. crude stocks fell 4.73 million barrels and gasoline stocks fell 4.45 million barrels. Analysts cited the drawdowns as evidence that the market is rebalancing.

- Date: 2017-07-20 · published 2017-07-20T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/70146-brent-tops-50-a-barrel-for-first-time-in-six-weeks-the-national
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Falling U.S. inventories support crude prices and suggest the glut is easing, which could keep energy and biofuel input costs firmer.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-12 | [OPEC oil production falls for the first time since March](https://feedsoft.ai/events/68865-opec-oil-production-falls-for-the-first-time-since-march.md) | +3.8% | +3.2% |
| WTI | 2016-11-22 | [Diesel prices are down for third week in a row - Logistics Management](https://feedsoft.ai/events/74016-diesel-prices-are-down-for-third-week-in-a-row-logistics-management.md) | -4.7% | +10.0% |
| WTI | 2026-03-10 | [Brent to trade above $95 for next two months on Iran war, EIA says  \| Reuters](https://feedsoft.ai/events/8159-brent-to-trade-above-95-for-next-two-months-on-iran-war-eia-says-reuters.md) | -1.3% | +20.4% |
| WTI | 2018-04-12 | [Oil surplus is vanishing, thanks to healthy demand and output curbs, Opec says \| The National](https://feedsoft.ai/events/65426-oil-surplus-is-vanishing-thanks-to-healthy-demand-and-output-curbs-opec-says.md) | +2.4% | +6.5% |
| WTI | 2019-01-18 | [OPEC cuts crude production for market re-balancing – National Daily Newspaper](https://feedsoft.ai/events/61001-opec-cuts-crude-production-for-market-re-balancing-national-daily-newspaper.md) | +2.1% | +4.8% |
| BRENT | 2017-09-12 | [OPEC oil production falls for the first time since March](https://feedsoft.ai/events/68865-opec-oil-production-falls-for-the-first-time-since-march.md) | +2.7% | +2.8% |
| BRENT | 2026-03-10 | [Brent to trade above $95 for next two months on Iran war, EIA says  \| Reuters](https://feedsoft.ai/events/8159-brent-to-trade-above-95-for-next-two-months-on-iran-war-eia-says-reuters.md) | +4.1% | +27.2% |
| BRENT | 2018-04-12 | [Oil surplus is vanishing, thanks to healthy demand and output curbs, Opec says \| The National](https://feedsoft.ai/events/65426-oil-surplus-is-vanishing-thanks-to-healthy-demand-and-output-curbs-opec-says.md) | +1.7% | +6.9% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/energy/brent-tops-50-a-barrel-for-first-time-in-six-weeks-1.610516

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