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Brent crude has risen to around $68 a barrel from a 2025 low of $58 in April, despite OPEC+ making large monthly output increases. Prompt prices are now higher than six-month-out prices, indicating a tight market.
A backwardated, tight crude market supports energy costs and the economics of biofuel feedstocks, even though supply is growing.
reuters.comRobert Harvey, Ahmad Ghaddar, Seher DareenAug 7, 2025Not 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.
