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WTI settled down 7.7% at $50.42 on Nov 23, its weakest since October 2017, and Brent fell to its lowest since late 2017. Crude has lost about a third of its value from its early-October peak.
Traders are waiting for OPEC and non-OPEC members to announce output curbs at their Dec. 6 meeting in Vienna.
Sustained crude weakness lowers diesel and fertilizer input costs over time but also cuts biofuel economics, weighing on soyoil and palm oil demand for biodiesel. The outcome of the Dec. 6 OPEC meeting is the key swing factor for energy-linked feed and oilseed prices.
cnbc.comSam Meredith, Tom DiChristopherDec 1, 2018Not enough comparable past events yet for a historical read.
Not 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.
