Crude oil prices fell by another 3.6%, but vegetable oil prices barely reacted to this globally

게시됨 2024년 9월 11일

Tridge 요약

Oil prices have hit a 16-month low, with Brent crude falling 3.6% to $69.2 per barrel and US WTI crude dropping 4.4% to $65.1 per barrel, influenced by expectations of decreased global energy demand and increased Chinese imports. Despite these trends, tropical storm Francine had minimal effect on prices. In the agricultural sector, palm oil prices fell by 1.2%, while soybean oil prices saw a decrease of 3.5%, except for soybean oil in Ukraine and Russia, where prices increased due to decreasing supply.

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원본 콘텐츠

Yesterday, oil prices fell another 3.6% to a 16-month low, having already lost 11.3% in September on expectations of a decline in global energy demand and news of a slight increase in imports from China. Morgan Stanley also lowered (for the second time in two weeks) its forecast for Brent crude oil prices in the 4th quarter from $80 to $75 per barrel, which increased pressure on quotations. News from China was mixed for energy demand and crude oil prices. On the one hand, the country increased imports by 0.5% (y/y) in August, while expectations were for a 2.5% increase. On the other hand, exports grew by 8.7% (y/y) during this time, while expectations were for a 6.6% increase, the largest increase in 17 months. November futures for Brent crude oil fell by 3.6% to a 16-month low of $69.2 per barrel yesterday (-6.8% for the week, -17% for the month), and for US WTI crude oil – by 4.4% to $65.1 per barrel (-6.8%, -18.3%). Oil prices barely reacted to tropical storm Francine, which ...

출처: UkrAgroConsult