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US crude fell more than 1% on Wednesday to below $70 per barrel, touching a nine-month low of $68.83 in the session. Traders speculated that OPEC+ could delay production increases scheduled for next month, while the market remained worried that supply would rise as demand weakens.
Uncertainty over OPEC+ output policy and softening demand keep crude under pressure, which lowers energy-linked support for biofuel feedstocks such as soybean oil and corn.
cnbc.comSpencer KimballSep 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.
