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Oil prices fell below $51 a barrel for the first time in nearly six months during the week ending June 7. Losses reflected trade war fears with China, threatened US tariffs on Mexican goods, and a huge rise in US crude inventories.
A weak US jobs report added pressure, while the Fed signaled possible rate cuts.
Trade-driven demand fears push energy and diesel prices lower, which eases input costs for feed production and transport. Continued US-Mexico tariff risk could keep prices volatile.
fuelsmarketnews.comDr. Nancy YamaguchiJun 7, 2019After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 28 past bearish trade events, ULSD / Diesel moved a median -0.1% over 5 sessions (50% higher; middle half -5.0% to +1.7%), and +0.9% over 20.
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.
