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Oil futures fell nearly 2% ahead of an OPEC+ decision on production cuts, with Brent settling at $72.31 and WTI at $68.54. A larger-than-expected draw in US crude stockpiles provided some support.
Anticipation of OPEC+ extending supply curbs limits downside, but the price weakness lowers energy input costs for feed producers and pressures biofuel feedstock values.
reuters.comNicole JaoDec 4, 2024Not 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.
