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U.S. West Texas Intermediate crude settled 56 cents higher at $48.52 a barrel, and Brent rose to $57.33, extending a rebound from December lows. The gains were driven by OPEC and non-member production cuts, with Saudi Arabia reportedly planning deeper export cuts, and by steadier equity markets ahead of U.S.-China talks.
Supply cuts from OPEC+ tighten the crude market and lift energy input costs, which can support diesel and fertilizer prices that feed into feed production costs.
cnbc.comReutersJan 7, 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.
OPEC and non-OPEC cuts, reported deeper Saudi export cuts and steadier equities extended the rebound, with Brent at $57.33.
