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Oil futures rose 2.3% in New York to their highest in over a year after an industry group reported another decline in U.S. stockpiles. Global supply and signs of strength in physical markets supported the rally.
Tightening inventories and firm physical demand lift crude prices, raising energy and transport costs that feed through to feed and freight markets.
bloomberg.comAndres Guerra LuzFeb 1, 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.
