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Crude oil recovered $6.65 after a 5-day low below $105 support on May 19, 2022. Traders cited US efforts to boost Venezuelan supply, pressure on Saudi Arabia to raise output, and Chinese purchases of Iranian oil, while demand fears weighed on prices.
Crude moves feed through to diesel, fertilizer and biofuel economics, affecting feed input costs. Demand-driven volatility and supply-side hopes point to a range-bound, uncertain price outlook for energy-linked feed costs.
hightowerreport.comHightower ReportMay 20, 2022Not 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.
