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Oil prices fell about 4% as renewed lockdowns in Europe and Asia undercut hopes for an economic recovery. A large container ship running aground in the Suez Canal was reported, but the market largely shrugged off the blockage for now.
Lower crude demand expectations weigh on energy prices, while the Suez disruption is a logistics risk that could lift shipping costs if it persists.
reuters.comStephanie KellyMar 25, 2021After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, BRENT moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
