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WTI fell about 7% to $53.30 on Nov 20, 2018, its lowest in more than a year, and Brent dropped to $62.29. The decline followed a Wall Street sell-off driven by slowing growth fears and weak retail and tech results.
Volumes in WTI futures were well above the 10-month daily average.
Expectations of weaker global growth reduce projected oil demand and push crude lower. Lower energy prices also weigh on biofuel margins that support grain and oilseed demand.
business-standard.comReutersNov 20, 2018Not 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.
