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Oil prices have fallen sharply since a cyclical peak in early October, driven by surging production and concerns about the global economy and consumption growth in 2019. Front-month Brent dropped more than $17 a barrel, or about 20%, over five weeks.
Rising output combined with weaker demand expectations signals a looser energy market, which typically lowers diesel and fertilizer costs and reduces the energy-linked pressure on feed prices.
reuters.comJohn KempNov 14, 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.
Describes the ongoing slide driven by surging supply and weaker 2019 demand worries, the fundamental backdrop that likely fed the further 1-day drop on Nov 23 through bearish sentiment.
Attributes the multi-week slide to surging production and global demand concerns, fundamental drivers underlying the 5-day drop, though published a day after the window end.
Surging production and global growth concerns are the underlying supply and demand drivers of the multi-week decline that continued into the window.
