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Crude oil prices edged higher as the dollar weakened and supply disruptions were in focus, with WTI trading near $70 a barrel. Concerns about recession and jobless claims rising had weighed on the market earlier in the session.
Recession worries point to lower future oil consumption, but a weaker dollar and supply concerns provide support, leaving energy costs for feed logistics broadly steady.
bloomberg.comDevika Krishna KumarMay 11, 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.
