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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 mrt 2022Na 210 eerdere neerwaarts beleid-gebeurtenissen bewoog Ruwe olie (Brent) zich mediaan -0,9% over 5 sessies (48% hoger; middelste helft -3,8% tot +3,2%), en +0,2% over 20.
Na 215 eerdere neerwaarts beleid-gebeurtenissen bewoog Ruwe olie (WTI) zich mediaan +0,1% over 5 sessies (51% hoger; middelste helft -4,4% tot +3,3%), en +0,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
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.
