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WTI crude fell 10.8% in October, its steepest monthly decline since July 2016, and is more than $11 below its October 3 high of $76.90. Brent also fell nearly 9% for the month after starting October near four-year highs.
Lower crude weakens the energy-linked cost base for feed transport and fertilizer and reduces biofuel margin support for vegetable oils, which tends to pressure feed-ingredient prices alongside energy.
cnbc.comTom DiChristopherOct 31, 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.
It documents the steep October sell-off, with Brent down nearly 9% for the month, which context confirms the momentum behind the weekly drop.
