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Oil prices rose more than $1 a barrel on Friday, supported by falling European inventories and OPEC output cuts, despite an IEA report showing demand growth at its lowest since 2008. For the week, Brent lost more than 5% and WTI fell about 2% amid an unexpected U.S. stock build and China-U.S. trade war fears.
Tighter European stocks and OPEC cuts provide short-term price support, but weekly losses show demand worries from the trade war still dominate, keeping energy-linked feedstock prices under pressure.
reuters.comStephanie KellyAug 9, 2019Not 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.
