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Brent settled up 47 cents to $61.37, near its July 2015 highs, and WTI rose to $54.38, near its highest since February. Both benchmarks gained over 5 percent in October as the US-Iran conflict continued to disrupt Middle East supply.
Higher crude lifts diesel and energy costs for feed mills, transport and grain drying, and it can support biofuel-linked vegetable oil prices. Analysts expect a wider WTI discount to pull more US crude exports, which could cap gains.
cnbc.comReutersOct 31, 2017After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
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.
