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Bloomberg reports that the Brent crude benchmark may undergo its biggest overhaul since it was established more than 30 years ago. The change would add oil from Central Asia, West Africa and US shale to the price assessment.
Brent underpins more than half of globally traded crude.
A change to the benchmark's composition could alter how physical crude and derivatives are priced, affecting hedging costs for energy-linked feed inputs. The direct effect on grain and feed prices is limited.
bloomberg.comJavier Blas, Dan Murtaugh, Sherry SuSep 24, 2018Not 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.
