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Tight global energy supplies pushed oil above $80 a barrel for the first time in three years, with demand recovering from the pandemic and US output disrupted by Hurricane Ida. Goldman Sachs forecast Brent could reach $90 by year-end, while analysts debated whether OPEC+ spare capacity meant a real shortage.
Higher crude and a bullish forecast raise energy and diesel costs for feed milling and transport, and support vegetable oil prices via biofuel demand.
voanews.comDale GavlakSep 29, 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.
