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Oil prices slipped for a fourth straight session as U.S. crude inventories rose 2.4 million barrels, against analyst expectations of a 3 million barrel increase. Brent was down about 0.6% near $68 a barrel and WTI settled 0.3% lower near $64.60, while European vaccine pauses and rising COVID cases weighed on demand.
Rising U.S. crude stocks and weaker European demand point to near-term price softness, which lowers energy input costs for feed buyers.
cnbc.comReutersMar 17, 2021Not 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.
