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Oil fell for a second straight week, with Brent settling down $1.17 at $74.79 a barrel and WTI down $1.12 at $70.17. Disappointing Chinese economic data weighed on sentiment despite the Saudi output cut.
Weak Chinese demand signals reduce crude support, easing energy and transport costs for feed producers.
reuters.comShariq KhanJun 9, 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.
