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Brent crude traded up to $64 a barrel last week on optimism over the US-China trade deal, then fell on profit-taking after reaching a two-month high. Prices were also influenced by expectations that OPEC+ would extend production cuts and push Iraq and Nigeria toward stricter compliance.
Analysts expected markets to focus on US-China negotiations in the new week.
Crude moves are being driven by trade talk headlines and OPEC+ expectations, which affect energy-linked feed and biofuel costs. The article mainly describes weekly price moves without a new cause.
businesspost.ngAdedapo AdesanyaNov 25, 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.
