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NYMEX August RBOB fell 14.32 cents to $2.1104/gal, and US Gulf Coast gasoline reached its lowest level since May 28. The decline followed news that OPEC+ would raise production limits.
A planned OPEC+ output increase adds supply to the market and pushes crude and fuel prices lower, which lowers energy costs for feed and transport.
spglobal.comJul 19, 2021After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% 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.
