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Opec crude grades strengthened against Brent and especially WTI as cuts concentrated on the Mideast core tightened Asian markets. WTI was weak at Cushing, Oklahoma, while Brent traded around $61 a barrel when the report went to press.
Benchmark grades had firmed in recent weeks.
A widening gap between the OPEC basket and WTI shows Asian supply is tighter than U.S. supply, which supports Brent-linked prices. The effect on feed commodities is indirect.
archives.mees.comNov 3, 2017Not 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.
