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An Energy Intelligence analysis says OPEC rhetoric and US oil production data have driven Brent front-month futures more than physical North Sea crude trade. Financial money managers reacting to macro headlines have pushed prices away from physical fundamentals.
Benchmark prices that diverge from physical trade can swing sharply on headlines, adding price volatility for commodities priced off crude. The effect on feed commodities is indirect.
energyintel.comAug 3, 2017Not 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.
