Loading…
Brent crude rose from a $64.57 low on April 26 to a $68.95 high on April 29, despite supply increases from OPEC+ and Libya. Market participants attributed the rally mainly to strong gasoline demand and expected recovery in consumption.
Sustained crude strength above $68 supports biofuel margins and raises diesel and transport costs for feed buyers, with demand-led gains suggesting the rally may hold.
energyintel.comApr 29, 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.
