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Oil futures lost more than 6% in the week, the largest weekly drop since October, with WTI down 6.4% and Brent down 6.8%. Goldman Sachs called the pullback a transient halt in a larger rally and expects a rapid oil market rebalancing in coming months.
Goldman's view that rebalancing will tighten supply points to firmer crude prices after the selloff. Energy-linked feed and biofuel costs could recover from here.
marketwatch.comMyra P. SaefongMar 19, 2021Not 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.
