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WTI's May futures contract plunged to negative $40 a barrel on April 20 as storage ran out. Front-month contracts later settled at $13.78 for WTI and $20.37 for Brent on April 22.
Storage constraints and rising inventories mean the price pressure on crude may persist, weakening energy-linked input costs and biofuel demand. Continued weakness in fuel markets can spill into corn and vegetable oil prices through ethanol and biodiesel margins.
economist.comApr 25, 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.
