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West Texas Intermediate slid 1.4% to settle near $73 a barrel, extending a six-week losing run. Saudi Energy Minister Prince Abdulaziz bin Salman said the kingdom's output curbs could continue past the first quarter.
Possible extension of OPEC+ output cuts supports crude prices, which feeds into biofuel and fertilizer costs. Routine price moves with no major new supply shock.
bloomberg.comJulia Fanzeres, Mia Gindis, Alex LongleyDec 3, 2023Not 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.
