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Brent crude settled at $79.28 after rising 97 cents, and WTI settled at $75.88, marking a sixth weekly gain in a row for WTI. Prices were near a three-year high ahead of an OPEC+ meeting.
Crude near multi-year highs raises diesel, freight and fertilizer costs for feed producers, and the OPEC+ decision on supply is the key near-term driver of whether that cost pressure persists.
reuters.comLaura SanicolaOct 1, 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.
