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Oil prices edged lower on July 31 after a Reuters survey showed OPEC output rose 70,000 bpd in July to 32.64 million bpd, a 2018 high. WTI and Brent futures each slipped about 0.4%.
Saudi Arabia's suspension of Red Sea shipments following Houthi attacks on tankers remained in focus.
Higher OPEC supply offsets outages and tempers crude gains, which lowers diesel and energy costs for feed mills and transport. Supply disruptions in the Red Sea and Iran keep upside risk alive.
finance.yahoo.comInvesting.comJul 31, 2018Not 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.
