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A paid CME Group program reports that crude oil storage at Cushing, Oklahoma, has peaked and begun to decline as demand recovers from COVID-19. Cushing is the delivery point for the NYMEX WTI contract.
Falling Cushing inventories tighten the WTI market and can support crude prices, which feed into energy and input costs for feed producers.
partners.barrons.comBarron's Custom ContentAug 18, 2020Not 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.
