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Oil prices held at a 14-month low on Thursday. Concerns about demand in the US and China and an expected rise in Libyan supply outweighed a large draw in US crude inventories and a delay to OPEC+ output increases.
Persistent demand worries and expected supply growth keep crude depressed, which tends to ease diesel and freight costs for feed buyers.
reuters.comScott DisavinoSep 5, 2024Not 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.
Brent stayed at a 14-month low as demand worries in the US and China and Libyan supply outweighed a US inventory draw.
