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Oil prices fell midweek as US production and inventories rose and the IEA cut its global demand forecast, while the US-China trade war added worries about growth. Prices rebounded on expectations of Saudi production cuts, but NYMEX gasoline still ended the week lower, down about 6%.
Lower crude and diesel prices reduce fuel and freight costs for feed producers, but the weak demand outlook and trade tensions limit any sustained rally.
fuelsmarketnews.comDr. Nancy YamaguchiAug 9, 2019Not 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.
