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Brent rose $2.03 to settle at $119.43 and WTI gained 98 cents to $115.07 on May 27. Prices were supported by strong fuel demand ahead of the US driving season while European nations negotiated an embargo on Russian crude.
Firm crude and strong distillate demand keep diesel and freight costs elevated, supporting higher feed transport and processing costs.
reuters.comMarcy de LunaMay 27, 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.
