Loading…
Oil prices settled on May 2, 2024 near seven-week lows, mixed and under pressure from weaker global demand, rising inventories and fading expectations for a quick US rate cut. Market attention shifted from geopolitics to economic data.
Weaker energy demand and rising crude stocks signal softer biofuel and energy-linked demand for feed-relevant commodities. The bearish tone points to lower energy-linked input costs.
reuters.comShariq KhanMay 2, 2024Not 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.
