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Oil posted a monthly loss on May 31 as Brent fell to $81.62 and WTI to $76.99 amid supply glut concerns. The IEA cut its 2024 demand growth forecast while non-OPEC+ supply is projected to rise.
A growing supply surplus and contango point to softer crude prices, which lowers diesel costs and weighs on biofuel-linked vegetable oil demand.
thenationalnews.comJohn BennyMay 31, 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.
