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Oil prices have posted their biggest rally since 2009, rising more than 30% since December, with Brent trading above $67 a barrel. The rally reflects OPEC+ cuts of 1.2 million bpd, over-compliance by Saudi Arabia and a Venezuelan grid blackout that disrupted production.
US sanctions on Iran add uncertainty.
A sustained crude rally raises diesel, freight and fertilizer costs and supports vegetable oil and biofuel prices, which feeds into feed input costs.
arabnews.comCornelia MeyerMar 18, 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.
