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Crude futures slid to a nine-month low as bets grew that Libyan supply disruptions would be short-lived. NYMEX front-month crude settled at $69.20 a barrel and ICE Brent at $72.70, while Platts assessed physical Dated Brent at $75.83 on Sept.
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Expectations of a supply glut and weaker demand point to continued downward pressure on crude, which lowers energy and logistics costs for feed producers.
spglobal.comRobert Perkins, Charlie Mitchell, Jeff MowerSep 4, 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.
Supply glut fears as Libyan disruptions looked short-lived dragged Brent to a nine-month low.
