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Brent fell more than 17% toward $105 a barrel in a risk-off move across markets. The UAE said it would call on fellow OPEC+ members to raise output faster.
Ukraine-related headlines also weighed on sentiment.
A faster OPEC+ output increase lowers the crude price floor that supports biofuel and diesel costs for feed and grain handling. The sharp drop points to lower energy-linked costs for feed ingredients.
bloomberg.comJulia Fanzeres8 Mar 2022Setelah 210 peristiwa kebijakan bearish sebelumnya, Minyak Mentah (Brent) bergerak median -0,9% selama 5 sesi (48% lebih tinggi; separuh tengah -3,8% sampai +3,2%), dan +0,2% selama 20 sesi.
Setelah 215 peristiwa kebijakan bearish sebelumnya, Minyak Mentah (WTI) bergerak median +0,1% selama 5 sesi (51% lebih tinggi; separuh tengah -4,4% sampai +3,3%), dan +0,2% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Reports the risk-off move and the UAE call for faster OPEC+ output, both pressuring Brent.
Brent dropped over 17% intraday toward $105 in a risk-off move, with UAE OPEC+ output comments adding supply relief and sentiment pressure.
Brent fell over 17% intraday toward $105 on risk-off sentiment and the UAE's call for faster OPEC+ output increases.
Risk-off selling and the UAE call for faster OPEC+ output pushed Brent down sharply, contributing to the reversal.
