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WTI and Brent crude settled higher on March 20 after a sharp retreat in the US dollar index. Traders were positioning ahead of the FOMC meeting, where most expected a 25-basis-point hike despite banking-sector turmoil.
A weaker dollar ahead of the Fed decision supports crude prices, which feed into diesel and freight costs for feed buyers. The move reflects positioning and currency flows rather than a change in oil supply.
dtnpf.comLiubov GeorgesMar 20, 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.
