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Crude fell about 2.9% on Sept. 26 after the Financial Times reported that Saudi Arabia plans to restore output in December.
Libya also moved toward reopening its shut-in fields after a central bank governor agreement. Nov WTI closed at a two-week low.
Expected Saudi and Libyan supply returns increase global crude availability, which pressures energy prices and related biofuel margins.
barchart.comRich AsplundSep 26, 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.
