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Middle East crude prices fell sharply after a global equity sell-off, with December Dubai cash dropping 4.42% to $74.40 on October 24, its biggest one-day move since June. WTI and Brent each fell about 4% the previous day, the worst one-day drop since July.
A broad crude sell-off lowers energy and freight costs for feed buyers and reduces biofuel-linked demand support for vegetable oils, though it reflects risk-off sentiment more than a supply change.
oilprice.comTsvetana ParaskovaOct 24, 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.
