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Brent and WTI spot structures weakened as traders priced in a possible supply glut. Analysts pointed to OPEC+ raising output faster and steady production from the US and other non-OPEC+ producers.
The article describes the shift in market structure.
A growing supply surplus pushes crude prices lower, which weakens the cost case for biofuel feedstocks and reduces diesel and fertilizer input costs over time. Lower energy prices also reduce ethanol and biodiesel margins that support corn and vegetable oil demand.
reuters.comSeher Dareen, Robert HarveyOct 20, 2025After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
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.
