Loading…
Oil prices were little changed on Friday but ended the week lower, with Brent down almost 3% and WTI down almost 4% over the week. It was Brent's third consecutive weekly decline, the first such run since April 2020.
Traders weighed expected supply growth against rising coronavirus cases that could bring lockdowns and weaker demand.
Lower crude prices reduce the cost of diesel and ethanol-linked energy inputs and can weaken biofuel margins that support corn and soybean oil demand. Sustained softness in crude would modestly pressure energy-linked feed input costs.
reuters.comScott DisavinoJul 16, 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.
