Loading…
Stock markets stalled and safe havens were supported in Asia as doubts grew over interest rates and growth outside the US. Oil prices fell to a six-week low on concern about a supply overhang and the prospect that China and the US would draw on fuel reserves.
Brent was last near $80, about 8% below last month's three-year high.
Lower crude prices reduce energy and freight cost pressure, but a reserve-driven supply overhang is a bearish signal for energy-linked feed and biofuel demand.
reuters.comTom WestbrookNov 18, 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.
