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Oil rebounded after Monday's selloff of about 7%, which was driven by demand fears from rising COVID-19 cases. The market also reacted to an OPEC+ agreement to boost supply in coming months.
A rebound from discounted levels suggests the bearish supply and demand shock has partly priced in, leaving crude and energy-linked feed costs less pressured.
reuters.comJessica Resnick-aultJul 20, 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.
