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Brent crude settled above $60 a barrel and WTI rose to $55.11 in the week's recap, as crude balances tightened under OPEC+ cuts. US crude inventories fell to their lowest since last October, while US production hit a weekly record of 12.5 million bpd.
Tightening crude balances support energy input costs for feed mills and transport, though record US output and trade-related demand worries limit upside.
arabnews.comFaisal FaeqAug 31, 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.
