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Oil and the Canadian dollar both rose in late July, with crude on track for its best month since early 2022. Net-long WTI positions reached three-month highs after Goldman Sachs argued global oil demand had passed its pre-COVID peak, and traders expected OPEC+ to keep supply tight.
Tightening crude supply and rising energy prices lift input and freight costs for feed production and support energy-linked commodity currencies.
marketpulse.comEdward MoyaJul 31, 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.
