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Brent closed at $95.84 a barrel and WTI at $88.56 on Friday, with the Mexican export blend at $82.68. Oil fell about 2% over the week, following steep losses the previous week, as signs of a growing global surplus and the US blockade of Iran eased fears of renewed hostilities.
Signs of a growing global surplus put downward pressure on energy costs, which lowers diesel and freight expenses for feed producers. Weaker crude also reduces support for vegetable oil and biofuel-linked prices.
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.