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Physical crude prices in some major markets weakened on Oct 25 as freight costs rose and refining margins fell. Traders and LSEG data point to softer demand.
Brent futures had earlier climbed above $87 from the low $70s since June on OPEC+ cuts.
A softening physical market often leads futures lower, which would ease energy input costs for feed producers. The signal is still early and not confirmed by futures.
reuters.comNatalie GroverOct 25, 2023Not 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.
