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Oil prices fell more than 1% on Friday, extending weekly losses amid concerns about a supply glut despite OPEC+ extending output cuts. Brent settled at $71.12 and WTI at $67.20.
Supply glut fears push crude lower, easing diesel and transport costs for feed buyers while pressuring biofuel-linked oilseed demand.
reuters.comLaila KearneyJan 1, 2025Not 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.
