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US light sweet crude settled at $48.36 on June 1, up 4 cents, while Brent fell more than 10 cents. US crude stocks fell for an eighth straight week, though US production hit its highest level since August 2015.
Inventory draws support prices, but record US output and the OPEC extension keep the outlook balanced, offering limited directional pressure on energy costs.
ogj.comPaula DittrickJun 2, 2017Not 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.
