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Oil prices tumbled after reports of swelling inventories and forecasts of record U.S. and Russian output. Both benchmarks had slid more than 30 percent since early October, and investor surveys showed expectations of weakening global growth.
Growing global inventories and rising supply signal a surplus that pushes crude prices lower. Weaker energy prices can also reduce biofuel margins and the value of oil-linked feed inputs.
business-standard.comReutersDec 18, 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.
Glut fears and global growth slowdown expectations fueled the Dec 18 selloff via supply and sentiment channels.
Dec 18 drop on glut fears and slowing global growth sentiment contributed to the weekly decline.
