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Brent crude rose about 3% to $81.16 a barrel, its highest since November 2014, after OPEC and Russia declined to raise output at the Algiers meeting. Traders see prices rising further as US sanctions on Iranian crude take effect in November.
Higher crude lifts diesel and freight costs and makes biofuel feedstocks more attractive, while strengthening the pressure on importing emerging-market currencies that buy grain.
bbc.co.ukBBCOct 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.
