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Oil settled more than $2 a barrel higher on signs of tighter supply, a weaker dollar and hopes for a Chinese demand recovery. US crude stocks fell nearly 13 million barrels in the week to Nov 25, the largest drop since 2019.
Gains were capped by an OPEC+ decision to hold its Dec 4 meeting virtually, which signals little chance of a policy change.
Tighter crude and a softer dollar lift energy and diesel costs for feed producers, while the lack of an OPEC+ policy change limits further upside.
businesstimes.com.sgNov 30, 2022Not 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.
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.
