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Oil prices rose on Sept 23 as Brent touched its highest level in more than two months, settling at $77.25. Growing fuel demand and a draw in US crude inventories supported prices while Gulf of Mexico production remained hampered after two hurricanes.
OPEC+ members struggled to raise output.
Hurricane-hit Gulf output tightens crude and diesel supply, raising fuel and freight costs for grain and feed logistics. Higher energy prices can also lift biofuel feedstock demand.
reuters.comJessica Resnick-AultOct 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.
