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Oil prices posted a second straight weekly loss on Friday, March 18, 2022, but held above $100 a barrel. Brent rose about 1.2% on the day after a volatile week, and traders were weighing the lack of replacement for Russian barrels and talks between Russia and Ukraine.
This is routine price action with no new supply cause, so it signals that the elevated crude level persists without changing the near-term outlook for feed input costs.
cnbc.comReutersMar 18, 2022Not 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.
Oil held above $100 on March 18 after a volatile week, setting the low base from which the rebound to March 21 was measured.
