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Oil prices fell to a one-year low on Nov 23, with Brent down about 3.7% to near $60 and WTI losing over 5% intraday. Crude is on course for its biggest monthly decline since 2014 as US, Russian and Saudi supply grows faster than demand.
OPEC is expected to begin withholding output after a Dec. 6 meeting.
Lower crude prices weaken the energy-linked cost of biofuel feedstocks and diesel, and pressure vegetable oil and ethanol-linked margins. Expected OPEC cuts are a potential support, but the market has not yet priced them in.
cnbc.comReutersNov 23, 2018Not 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.
