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Brent rose 53 cents to $42.93 and WTI settled up 2.7% on Tuesday as vaccine hopes outweighed the expected demand hit from new lockdowns. Both benchmarks had jumped about 8% the previous day.
Traders see the vaccine as a longer-term demand support, but mass rollout is months away, so near-term lockdown demand losses cap the upside for crude and diesel.
cnbc.comReutersNov 10, 2020After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
