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Brent and WTI closed up 2.7% on August 2 to $62.07 and $55.40, rebounding from Thursday's sharpest single-day slide in over three years. ULSD and RBOB also rose.
Analysts attributed the bounce to a correction of an overdone sell-off tied to trade war fears.
The rebound suggests the prior sell-off may have overshot, so energy-driven costs for feed producers may stabilize, though mixed economic indicators leave direction uncertain.
burkeoil.comKelly BurkeAug 2, 2019Not 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.
