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Oil rose for a third straight week to near three-year highs on Sept 24, with Brent at $78.09 and WTI at $73.98. Global output disruptions and Gulf Coast losses from Hurricane Ida have drawn heavily on inventories.
China's first public sale of state crude reserves slightly dampened the rally.
Tight crude supply lifts diesel and energy costs for grain transport, drying and fertilizer production. Higher energy costs support ethanol and biofuel economics, which can underpin corn and vegetable oil prices.
cnbc.comReutersSep 24, 2021Not enough comparable past events yet for a historical read.
Not 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.
