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Brent crude dipped about 0.6% to $79.09 after touching $80.75, its highest since October 2018, as a five-day rally paused with investors taking profits. Traders expected OPEC+ to keep supply tight at its meeting the following week, while a power crunch in China loomed as a headwind.
Tight OPEC+ supply expectations and firm fuel demand support crude prices, which feed into biofuel and diesel costs and therefore feed-ingredient and vegetable oil pricing.
reuters.comRod NickelSep 28, 2021Not 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.
