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Brent futures approached $96 and WTI neared $100 per barrel, driven by supply cuts from Saudi Arabia and Russia. Some analysts warned that prices at these levels could cause demand destruction and are unlikely to hold long term.
Sustained triple-digit crude would raise costs for diesel, fertilizer and transport across feed supply chains. Analysts' warnings of demand destruction suggest the rally may fade, which limits how long the energy cost pressure lasts.
cnbc.comRuxandra IordacheSep 29, 2023Not 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.
