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OPEC+ Deal Contributes to Move Lower in Oil Complex

Ryan Standard | 07.19.2021 | Jacobsen

**Please Note – Bob Lane is out of the office this week, returning Monday, July 26th. in his absence, please contact Ryan Standard at 331.276.8227 or [email protected] with any questions, comments or trading.**

Biofuels prices are lower today on sinking heating oil and crude markets. The move lower in the oil sector has been attributed to concerns over rising COVID cases and a deal reached between OPEC+ nations to increase output in the coming months. Soybean oil prices moved lower as well, down 12.9 cents per gallon, which is in near lockstep with the 12.82 cents per gallon drop in the September heating oil contract.

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OPEC+ Deal Contributes to Move Lower in Oil Complex

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