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WTI settled near $89 a barrel, finishing the week almost 10% lower. US gasoline consumption fell, adding to demand concerns, and Libyan supplies recovered.
Weaker US fuel demand combined with returning Libyan barrels pushes crude lower, which feeds through to diesel and energy costs for feed logistics.
bloomberg.comJulia FanzeresAug 4, 2022Not 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.
