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The EU agreed a 16th sanctions package against Russia that sanctions 73 more shadow-fleet vessels and bans aluminium imports. Cold weather also cut North Dakota oil output by 120-150k b/d and hit natural gas production.
Supply from Kurdistan may resume soon.
Tighter sanctions on Russian tankers and US production losses reduce crude supply and support prices. Higher energy costs raise feed processing and transport expenses.
think.ing.comWarren Patterson, Ewa MantheyFeb 20, 2025After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
