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Oil futures in New York fell for a second straight session on Monday to their lowest in over a week. The decline came ahead of a key OPEC+ meeting that could return more supply to a market that has been tightening quickly.
Expectations of extra OPEC+ output weigh on crude prices, which feed through to diesel and fuel costs for feed mills and transport. Traders are pricing in the risk of supply returning despite tighter fundamentals.
bloomberg.comAndres Guerra LuzFeb 28, 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.
