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Oil prices were down about 3% in midday trade, with Brent near $123.89 and WTI at $119.14. Markets paused after the rally that followed Russia's supply shock, and shippers were avoiding Russian cargoes under sanctions.
Sanction-driven shipping hesitancy keeps energy prices elevated and supports costs for feed transport and processing. A pause in the rally offers only limited relief to feed buyers.
reuters.comMar 9, 2022Not 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.
