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Oil prices edged up from near three-month lows reached on Tuesday, but demand concerns persisted. Prices had fallen during the week after Saudi Aramco cut its October official selling prices for Arab Light crude, a sign of softening demand.
Aramco's OSP cut signals weak Asian crude demand, so the small rebound leaves energy costs near multi-month lows and offers little support for biofuel-linked feed demand. Price direction remains soft.
reuters.comStephanie KellySep 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.
