# US crude posts biggest weekly gain since Feb 2011

> U.S. crude settled up 1.2% at $51.68 a barrel on Friday, its biggest weekly gain since February 2011. Brent was on track for its biggest weekly rally since 2009 following OPEC's first production cut agreement since 2008.

- Date: 2016-12-02 · published 2016-12-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/73625-us-crude-posts-biggest-weekly-gain-since-feb-2011
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong crude gains after the OPEC cut raise energy input costs and support vegetable oil prices. A weaker dollar also helped support prices this week.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2016/12/01/us-crude-futures-extend-gains-on-production-cut-deal.html

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