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Brent and WTI futures settled higher on February 1, 2018, after a survey showed OPEC's supply-cut commitment holding. U.S. crude output had topped 10 million bpd for the first time since 1970, and both benchmarks were near their highest levels since December 2014.
Higher crude supports energy costs and biofuel economics, which can lift soybean oil, palm oil and corn-based ethanol margins. The gains were tempered by rising U.S. output.
arabnews.comReutersFeb 1, 2018
reuters.comScott DiSavinoFeb 1, 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.
