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WTI crude recovered above $60 per barrel for the first time in seven weeks, even as U.S. output hit a record and inventories fell sharply. Iranian military boats tried to seize a British tanker, and diesel futures opened the week up 8 cents (4.3%) on renewed geopolitical tension, weather and tighter supply.
Higher crude and diesel prices raise fuel and freight costs for feed production and delivery, and geopolitical risk in the Gulf adds upside volatility.
fuelsmarketnews.comDr. Nancy YamaguchiJul 12, 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.
