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WTI crude traded near $70.44 after the largest one-day drop since 2015, and prices stabilized with gasoline and diesel slightly higher. Libyan output recovered after a drop of about 850,000 barrels per day.
Reports of OPEC compliance falling and the IEA's balanced-to-oversupplied outlook were cited.
Libyan supply returning and signs of oversupply weigh on crude, while the threat of outages keeps volatility high and mixes the near-term price signal.
mansfield.energyAlan ApthorpJul 13, 2018Not 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.
