
Helima Croft of RBC Capital Markets said the continued collapse in oil prices signals that investors fear a recession in 2019. WTI fell below $45 for the first time since July 2017 and was down about 40 percent from its early-October highs despite an OPEC, Russia and allied pledge to cut 1.2 million barrels per day.
Recession fears point to weaker demand growth for crude, and the market is pricing that in despite announced supply cuts. Lower energy prices also reduce input costs for feed and ethanol, which can weigh on related commodity values.
Tras 565 eventos bajista de macro pasados, Petróleo crudo (WTI) se movió una mediana de -1,4 % en 5 sesiones (41% al alza; mitad central entre -5,9 % y +3,0 %), y -0,5 % en 20.
Tras 312 eventos bajista de macro pasados, Petróleo crudo (Brent) se movió una mediana de -1,7 % en 5 sesiones (38% al alza; mitad central entre -5,4 % y +2,3 %), y -1,7 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Recession fears in 2019 dominated sentiment on Dec 24, overwhelming the OPEC+ cut pledge.