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Oil settled 1% lower on Tuesday as traders worried about rising supplies, with further losses after API data showed a build in U.S. crude inventories. U.S. CPI data also raised the likelihood of less aggressive Fed rate hikes.
Bigger U.S. crude stocks point to weaker energy demand relative to supply, pressuring crude and diesel costs that feed into farm input and freight prices.
reuters.comShariq KhanFeb 14, 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.
