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Oil hit seven-year highs as tight supply and geopolitical risk added a premium to prices. Brent settled at $87.51 a barrel and WTI at $85.43 after gains of about 1-2%.
Higher crude raises diesel and fertilizer-linked input costs for feed producers and can pull biofuel-linked oil demand higher, supporting vegetable oil and feed ingredient prices.
reuters.comStephanie KellyJan 18, 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.
