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Futures in New York fell 7.5% on Monday, the largest decline since September. OPEC and allies agreed to monthly supply hikes of 400,000 barrels a day while the delta variant stoked risk-off sentiment.
Lower crude prices and a stronger dollar reduce energy-linked and dollar-priced commodity support, with demand worries adding to downside pressure.
bloomberg.comJill R ShahJul 18, 2021Not 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.
Futures fell 7.5% as the monthly supply hikes were agreed and the Delta variant drove risk-off sentiment.
