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Oil prices settled about 1% lower on Friday on profit-taking and macroeconomic worries, but Brent and WTI still finished the quarter up roughly 27-29%. Brent November settled at $95.31 and WTI at $90.97 as OPEC+ production cuts tightened global crude supply.
Crude prices near $90-100 raise diesel and energy costs for feed mills, grain transport and fertilizer, and keep pressure on biofuel-linked vegetable oil values. The quarter-end gains point to firm energy costs heading into the next feed price cycle.
cnbc.comReutersSep 29, 2023
reuters.comLaura SanicolaSep 29, 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.
Prior session settled lower on profit-taking and macro worries, reflecting the same sentiment-driven selling that carried into the move.
