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Reuters columnist John Kemp argues that Brent near $40 is not especially cheap by historical inflation-adjusted standards. He says the rally since April reflects expectations of rebounding consumption and continued OPEC+ and shale restraint.
The view that prices may have limited further upside, with risks now balanced, suggests crude may stay range-bound, affecting energy costs for feed buyers.
ctrmcenter.comPatrick ReamesJun 19, 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.
