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Brent crude futures rose $1.25, or 1.6%, to settle at $81.36 per barrel, with a session peak of $81.57, the highest since April 25. The move was attributed to a tightening market and possible OPEC support.
Higher crude prices lift energy and transport costs for feed producers and can support biofuel-linked demand for vegetable oils. The move is routine price commentary with no major new supply shock.
reuters.comStephanie KellyJul 13, 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.
