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US crude rose 1% to settle at $56.25 on Nov 14 after a record 12-session losing streak, as OPEC and allies discussed cutting output by up to 1.4 million bpd. Brent rose to about $65 after falling to an eight-month low the previous day.
Both benchmarks remain more than 20% below early-October levels.
The prospect of OPEC-plus supply cuts is a support for energy prices, which in turn firms biofuel margins and soyoil and palm oil values. Persistent weakness in crude still undercuts the energy-linked cost base for feed and ag inputs.
cnbc.comReutersNov 14, 2018
moneycontrol.comReutersNov 15, 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.
