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CME Group published an explainer on April 26, 2021, arguing that WTI futures have become the leading global crude benchmark. It cites US crude exports to Europe surpassing Brent supply in 2020 and outlines Platts' plans to reform the Brent market.
The piece is educational and contains no new price move.
The article describes pricing structure rather than supply or demand, so it has little direct effect on feed input prices. It is relevant only for understanding which benchmark drives energy-linked costs.
cmegroup.comApr 26, 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.
