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Oil futures rose about 1% on hints that OPEC and its allies could deepen output cuts at their meeting that week, with sources suggesting an additional 400,000 barrels per day or more. Rising Chinese manufacturing activity also pointed to stronger demand.
Brent for February delivery rose to $60.92 and WTI gained to $55.96.
Expected deeper OPEC+ cuts and firmer demand from China tighten crude supply, raising energy and biofuel input costs for feed and oilseed supply chains.
streetinsider.comDec 1, 2019Not 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.
