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Commentary says OPEC has lost control of the oil market narrative after its informal alliance shaped it earlier, and hedge funds have been responding to the shift. Oil prices fell as a result.
Loss of OPEC's price-support credibility raises the risk of further crude declines, which lowers energy costs but signals weaker prices for biofuel-linked feedstocks.
reuters.comJohn KempMay 5, 2017Not 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.
