Loading…
Oil extended its losing streak to six days and benchmarks touched May lows. Crude has fallen about 15% since early July as new coronavirus infections have reduced travel and raised concern about economic activity.
Weaker demand expectations from virus-related mobility limits push crude and fuel prices lower. Lower energy costs ease input expenses for feed producers, though the decline mainly reflects demand concerns.
reuters.comStephanie KellyAug 19, 2021Not 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.
The preceding six-day losing streak to May lows left oil oversold, which set up the sharp rebound on Aug 23.
