Loading…
Oil benchmarks fell about 20% from April highs as bearish factors accumulated, including recession fears, weak 2019 and 2020 demand growth, and a stronger dollar. Correlation between oil, equities and FX was high during the week.
Speculation about further Saudi support measures was noted.
Lower crude prices reduce input costs for diesel and fertilizer, and a stronger dollar makes US commodities more expensive for overseas buyers.
freightwaves.comJohn KingstonAug 10, 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.
