Loading…
Brent crude futures fell about $3.56 to $95.75 a barrel on Wednesday, extending losses on worries about the global economy, interest rate hikes and COVID-19 restrictions in China. OPEC+ forecast a bigger-than-expected 2022 surplus, and Gazprom's output reached pre-COVID levels.
A bigger expected oil surplus and weaker demand point to lower energy costs, which eases pressure on biofuel margins and farm input costs.
arabnews.comNirmal NarayananAug 31, 2022Not 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.
