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Oil was on track for its biggest annual gain since 2016, with WTI up about 36% for the year and trading above $61 a barrel. Gains were attributed to OPEC output cuts and the easing of the US-China trade war.
Renewed Mideast tensions followed US air strikes on Iranian-backed militia sites in Iraq and Syria.
Higher crude and geopolitical risk in the Middle East raise energy and freight costs, which can pass through to feed ingredient and biofuel prices.
energynow.comDec 31, 2019Not 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.
