Loading…
Oil pulled back after its largest gain in more than nine months, as signs of a slowing US economy offset concerns that the Middle East conflict could threaten supplies. Crude had rallied about 4.3% the previous day.
Price swings in crude pass through to diesel and biofuel margins, which in turn affect vegetable oil and corn demand. The move reflects macro demand worries more than a change in grain supply.
bloomberg.comJulia Fanzeres, Alex LongleyJul 31, 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.
