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Oil prices rose about 1% on Friday but posted a weekly loss, as strong US economic data raised expectations that interest rates would stay elevated and curb fuel demand. Brent July rose 76 cents to $82.12 a barrel at the time of the report.
Expectations of tighter money and weaker fuel demand weigh on crude and diesel, reducing energy input costs for feed and grain logistics over the near term.
reuters.comArathy SomasekharMay 24, 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.
