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Oil futures finished higher on Wednesday, recovering less than half of the more than 7% drop from the prior session. Traders said the market had recovered from oversold positions, though demand concerns persisted.
WTI settled at $38.05 and Brent at $40.79 per barrel.
The rebound reflects short-term technical recovery rather than a change in demand fundamentals, so price direction remains uncertain. Energy cost moves can still flow through to feed and biofuel margins.
marketwatch.comMyra P. Saefong, William WattsSep 9, 2020Not 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.
