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Oil rose on Friday and posted a weekly gain, with Brent settling at $76.61 a barrel and WTI at $71.78. Higher Chinese demand and OPEC+ supply cuts supported prices despite expected global economic weakness.
Stronger crude prices and firmer Chinese demand raise energy and transport costs for feed producers, with modest upward pressure on related inputs.
reuters.comStephanie KellyJun 16, 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.
