US refiners' shares hit near two-year lows as Trump tariffs spur fuel demand fears

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.

• Jan 27, 2025Oil hits 2-week low as China's DeepSeek AI spurs demand fears | Reuters-2.8%
• Sep 10, 2024Oil settles near 3-year low on weak demand outlook | Reuters+2.1%
• Mar 27, 2020Oil drops as demand fears overshadow stimulus hopes+37.1%
• Apr 4, 2025Trump tariffs likely to raise inflation, slow US economic growth: Fed | AP News-10.2%
• Jun 23, 2022Oil prices slump as investors fear Fed rate hikes will hurt demand | Reuters+4.5%

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 25, 2022Oil slumps 4% as Shanghai lockdowns stoke demand fears+17.0%
• Sep 10, 2020Covid and trade war fears drop oil and fuel prices - Container News+1.8%
• Apr 4, 2025Oil falls to near 4-year low amid recession fears, OPEC+ production hikes-6.2%
• Jul 5, 2022Oil tumbles 9% on recession demand destruction fears-4.4%
• Jul 8, 2022Global diesel demand starts to slacken as economy falters | Reuters-0.3%