Loading…
Oil prices rose on March 1, 2017, as OPEC compliance with its output-cut pledge reached about 94% in February, according to a Reuters survey. Brent for May traded near $56.86 and WTI for April near $54.29, though rising U.S. output limited gains.
Tighter OPEC compliance reduces global crude supply and supports energy prices, which feed through to fuel, freight and biofuel economics for feed ingredients.
globalnews.caAmanda CooperMar 1, 2017After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% 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.
