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Brent crude futures settled at $73.44 a barrel, up 72 cents or 1%, after falling $9.50 the previous Friday. U.S. West Texas Intermediate crude settled up $1.80, or 2.6%, at $69.95 a barrel, having tumbled $10.24 in the prior session.
Crude is a key input for biofuel and diesel costs, and the rebound after Friday's sharp slide suggests some stabilization in energy prices that feed through to vegetable oil and feed freight costs. The move is small and carries no new supply or demand cause.
reuters.comJessica Resnick-AultNov 29, 2021Not 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.
