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Oil prices fell sharply on January 8, with ICE Brent settling 3.35% lower after a Saudi cut in official selling prices. European TTF gas dropped 8.44% as storage stayed above 84% full.
Lower energy prices reduce input and freight costs and can weigh on biofuel-linked demand for vegetable oils and corn.
think.ing.comWarren Patterson, Ewa MantheyJan 9, 2024Not enough comparable past events yet for a historical read.
Not 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.
