Loading…
WTI crude for June delivery jumped about 8% to settle at $31.82 a barrel on May 18, reaching as high as $33.32 intraday before paring gains. Brent settled 7.11% higher at $34.81.
Traders cited output curtailments and easing lockdown restrictions.
Deeper producer output cuts and gradual demand recovery tighten the crude balance, lifting energy costs and supporting biofuel and feed-input economics via soybean oil and corn ethanol margins.
cnbc.comPippa StevensMay 18, 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.
