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A market preview says oil futures have traded in a tight range for three months. Traders are weighing OPEC+ output plans, the possible return of Iranian oil under revived nuclear talks, and COVID-19 concerns in emerging markets.
NYMEX prices could move within a range around $57 to $68 a barrel.
Pending OPEC+ supply decisions and possible Iranian barrels are the swing factors for crude prices, which affect energy and freight costs for feed buyers.
moneycontrol.comHareesh VMay 31, 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.
