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Oil prices rose on supply concerns while investors awaited the OPEC+ decision on July output. Talk of a US diesel export ban widened the discount of US crude futures to the global benchmark.
Crude moves feed through to diesel and biofuel costs for feed mills and transport, and OPEC+ output decisions shape energy-wide price direction.
reuters.comNicole JaoMay 28, 2025After 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.
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.
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.
