Oil rises 2% but posts weekly loss on recession 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.

• Mar 17, 2023Oil prices settle down, post big weekly losses on bank fears | Reuters+2.4%
• Jul 6, 2022Oil slides 2% to 12-week low on fears of global recession-3.8%
• Jul 7, 2022Oil Posts Weekly Decline as Recession Fears Muddle the Outlook - Bloomberg-2.0%
• Nov 18, 2022Oil slides 2%, posts second weekly decline as supply fears recede | Reuters-6.5%
• Jul 5, 2022Oil tumbles 9% on recession demand destruction fears-3.9%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Mar 17, 2023Oil prices settle down, post big weekly losses on bank fears | Reuters+1.6%
• Jul 6, 2022Oil slides 2% to 12-week low on fears of global recession-3.2%
• Nov 18, 2022Oil slides 2%, posts second weekly decline as supply fears recede | Reuters-5.4%
• Jul 5, 2022Oil tumbles 9% on recession demand destruction fears-4.9%
• Dec 19, 2024Oil Notches Weekly Loss on Tariff Risk, Fed’s Slower Easing Path-0.8%