Loading…
Portfolio managers sold petroleum at one of the fastest rates in a decade in the week to July 20, equivalent to 172 million barrels across the six most important futures and options contracts. The selling followed a surge in coronavirus cases and an OPEC+ agreement to boost output, which led managers to reassess the likelihood of further price increases.
Heavy fund liquidation weighs on crude futures, which lowers diesel and energy costs for feed production and transport while signaling weaker energy-driven support for grain and oilseed complexes.
reuters.comJohn KempJul 26, 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.
