Loading…
Oil rose more than 1% on Monday, extending the prior week's gains, as traders priced in a demand recovery from successful coronavirus vaccine trials. Brent rose to $45.89 and WTI to $43.06, and the contango narrowed to its smallest since mid-June.
Firmer crude and a narrowing contango signal improving demand expectations, which supports energy costs and biofuel-linked vegetable oil prices.
cnbc.comReutersNov 23, 2020Not 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.
