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Brent crude fell below $70 a barrel for the first time in over two years, settling at $69.19. WTI settled at $65.75, the lowest close for both grades since December.
Lower crude weakens the economics of biofuels and raises the relative cost of vegetable oil feedstocks, which can pressure soybean oil and palm oil prices.
bloomberg.comAntonia MufarechSep 10, 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.
