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Brent crude settled below $50 a barrel for the first time since OPEC and other producers agreed output cuts late last year, closing at $48.38. WTI settled at $45.52 after falling 4.8%, as data showed persistently high inventories.
Persistently high inventories signal that the OPEC pact is not clearing the surplus fast enough, supporting continued downward pressure on crude prices.
ft.comGregory MeyerMay 4, 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.
