As oil falters, fuel that drove bull run is cruising in Asia

After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.

• Apr 29, 2022Thailand inflation spike may tilt odds in favour of early rate hikes - The Business Times-13.3%
• Feb 21, 2019Paradigm shift coming for oil industry - Business in Vancouver+0.3%
• Feb 1, 2021Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in 2Q+7.2%
• May 19, 2022Infra, cement cos feel pinch of falling rupee, realty counts on more sales | Company News - Business Standard-1.3%
• Sep 27, 2017Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg-5.1%

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.

• May 11, 2020The oil crash couldn’t have come at a better time for India’s rupee+19.0%
• May 24, 2019Oil Falls As US-China Trade War, Demand Make 'Recipe for Disaster' - Business Insider-2.1%
• Aug 15, 2021Ringgit hits 1-year low after cabinet resignation; may face pressure in coming months - The Business Times-8.9%
• Mar 17, 2021Oil Falls By Most in 6 Months as Recovery Falters - Bloomberg-10.9%
• Dec 22, 2020Oil's rally, fueled by vaccine progress, is running out of steam | Reuters+0.3%