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Brent settled down 1.94% at $83.24 a barrel and US crude fell 2.25% to $79.17. The dollar rose for a fifth straight day to around 103.5 on the dollar index, and spot gold fell 0.48%.
Stocks and oil slid after Fed meeting minutes and concerns about China.
Lower crude and a stronger dollar reduce energy and diesel costs for feed transport but signal weaker demand expectations that weigh on commodity prices broadly.
reuters.comPete SchroederAug 16, 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.
