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WTI rebounded nearly 2% on Monday, recovering part of the prior week's steep sell-off, after China cut its benchmark lending rate. Saudi Aramco's CEO said he remained fairly bullish on Chinese demand, while Morgan Stanley forecast a 2025 surplus of 1.3 million barrels per day.
Crude is rebounding on Chinese stimulus hopes, but forecasts of a 2025 surplus cap upside for energy costs that feed into feed logistics and biofuel economics.
cnbc.comSpencer KimballOct 21, 2024Not 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.
