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Brent crude settled at $70.85 a barrel and WTI at $61.94 on Friday, both up slightly on the day but down for the week. Strong US jobs data supported demand expectations, while sanctions on Iran and Venezuela and OPEC+ supply cuts tightened supply.
Rising US crude inventories and record production capped gains.
Crude prices feed into diesel, fertilizer and freight costs for feed producers, but the story mainly reports routine weekly market moves.
pakistangulfeconomist.comS. Kamal Hayder KazmiMay 5, 2019Not 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.
