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US crude rose on Feb 1 as data showed major exporters were cutting output quickly under the supply pact. WTI was at $53.96 a barrel in early trade, up 0.3 percent, after touching $55.37 the previous session, its highest since Nov.
21. US sanctions on PDVSA were keeping tankers stuck at ports and expected to accelerate the supply drop in February.
Falling exporter output and sanctions-driven supply losses tighten global crude and support energy-linked costs. Higher crude supports diesel and biofuel economics that influence vegetable oil and feed demand.
business-standard.comReutersFeb 1, 2019After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
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.
