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Oil fell as rising Covid-19 cases in Europe and a stronger US dollar weighed on sentiment. Libya lifted further force majeures and expects output to recover toward 260 kb/d, while API data showed a crude build but product draws.
Libyan supply recovery adds to crude availability while demand concerns persist, pressuring crude prices. Feed buyers face lower energy costs that can affect biofuel and transport economics.
think.ing.comWarren PattersonSep 23, 2020Not enough comparable past events yet for a historical read.
Not 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.
