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North American benchmark crude futures have risen 49 percent since late June, reaching a three-year high. Analysts attribute the rise to OPEC cuts, the longest winter drawdown in US crude stocks in a decade, strong refining margins, frigid weather and robust foreign demand.
A sustained crude rally raises diesel and fertilizer input costs for feed producers and supports vegetable oil biofuel economics, though further gains may invite US shale supply growth.
bloomberg.comJoe Carroll, Kevin Crowley, Laura BlewittFeb 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.
