Loading…
Oil fell about 7 percent to a one-year low, extending a 12-day losing streak. Traders said the selling followed Monday's slump, which was triggered by a U.S. presidential tweet urging OPEC not to cut supply.
A sharp crude decline lowers energy costs and reduces the appeal of biofuel feedstocks, pressuring soybean oil and corn-based ethanol margins.
reuters.comDavid GaffenNov 13, 2018Not enough comparable past events yet for a historical read.
Not 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.
Describes the same-day ~7% slump as continued selling after the presidential tweet urging OPEC not to cut supply, a sentiment and supply-expectation driver.
Describes the 12-day rout and the selling that followed Trump's tweet urging OPEC not to cut supply, a sentiment-driven supply-expectation shift within the window.
