Loading…
An analysis argues that crude prices are pressured by two forces: rising US production and rig counts, which have grown for 10 straight weeks, and a volatile US dollar that has not stimulated crude demand. Oil fell below $49 a barrel earlier as inventories built.
The author says OPEC's production cuts are only half the solution.
Persistent US supply growth and rising inventories cap crude price gains, which limits pressure on energy and freight costs for feed.
thenationalnews.comHussein Al SayedJul 21, 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.
