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WTI traded above $82 a barrel and was on track for a second weekly gain after EIA data showed crude and gasoline inventories fell. JPMorgan forecast Brent could reach $90 by September on summer fuel demand.
Tightening US inventories and firm summer demand point to higher energy costs that flow into freight, drying and biofuel-linked vegetable oil prices.
cnbc.comSpencer KimballJun 20, 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.
