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Oil edged lower toward $41 a barrel as signs of weakening fundamentals emerged, including Rystad expecting supply to exceed demand for four months. Prices weakened in futures structure and physical markets in the Middle East and Russia, while the dollar fell to its lowest since September 2018.
OPEC+ prepares to taper cuts as the pandemic resurges.
Expected oversupply and a weaker physical market point to lower crude prices, while dollar weakness partly offsets this by supporting dollar-priced commodities.
energynow.comJul 28, 2020Not enough comparable past events yet for a historical read.
Not 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.
