Covid and trade war fears drop oil and fuel prices

After 79 past bearish macro events, ULSD / Diesel moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% over 20.

• Apr 21, 2021Oil prices drop as India’s COVID-19 surge dents demand outlook | Reuters+1.6%
• Dec 12, 2023What led to this fall's oil price slide — and what might come next | CBC News+1.6%
• Nov 19, 2024What do Diesel and Gasoline Tell us About Oil Prices?-0.7%
• Apr 4, 2025US refiners' shares hit near two-year lows as Trump tariffs spur fuel demand fears-6.2%
• Apr 22, 2020Oil’s collapse and its effect on diesel prices - FreightWaves-15.4%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Apr 7, 2025Palm and Soy Oil Prices Drop as Oil Prices Decline-0.8%
• Jun 14, 2022Oil prices settle down on fears of Fed and oil profit tax-8.6%
• Apr 21, 2021Oil prices drop as India’s COVID-19 surge dents demand outlook | Reuters+0.7%
• Jul 27, 2026Canadian dollar hits near two-week low as oil prices drop | Reuters-3.3%
• Jan 29, 2020Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail-7.1%