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Oil slipped on Friday and was set for a second straight weekly loss, with Brent down 83 cents to $84.28 and WTI down 63 cents to $82.19. The decline was attributed to a strong dollar and worries about Chinese demand, which offset supply considerations.
A stronger dollar and softer Chinese demand weigh on crude, which can lower energy and freight costs for feed buyers. The price move reflects routine market pressure rather than a new supply event.
reuters.comAhmad GhaddarJul 19, 2024Not enough comparable past events yet for a historical read.
Not 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.
