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Brent crude for October delivery rose nearly $1 on Aug. 28 to settle above $60 a barrel for the first time in a week, while WTI settled near $55.80.
Analysts said the gains were fragile and vulnerable to negative US-China trade news. API and EIA data showed US crude inventories fell by about 10 million to 11 million barrels in the week ended Aug.
23.
Crude prices feed into diesel, freight and biofuel economics, which affect feed ingredient costs and the soyoil and corn ethanol outlook. The move is modest and the market is still range-bound, so the price impact for feed buyers is limited.
ogj.comPaula DittrickAug 29, 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.
