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NYMEX WTI and ICE Brent futures settled higher after the EIA reported rising US retail fuel prices, with diesel up 5.8 cents to a 10-week high of $3.561/gal. Saudi Aramco raised its February official selling prices for Arab Light, with the largest hike to North America.
Solid US ISM Services data for December also supported sentiment.
Higher Aramco OSPs signal firm crude demand and raise the cost of imported crude, supporting energy prices. Stronger services activity points to healthier fuel demand.
dtnpf.comMaria Eugenia Garcia DTN Energy EditorJan 7, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
