Oil prices edge up on Gulf of Mexico storm ahead of US election results

After 24 past bullish weather events, Crude Oil (Brent) moved a median +2.8% over 5 sessions (67% higher; middle half -1.9% to +5.2%), and +6.3% over 20.

• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.1%
• Sep 15, 2020Oil jumps nearly 3% as Gulf Coast storm forces output cuts+4.6%
• Feb 15, 2021Oil hits pandemic high as winter storm pushes demand and poses production risk+0.7%
• Jan 16, 2026Oil prices rise as supply risk remain in focus-0.3%
• Aug 31, 2017Global fuel prices rise as Harvey's effects ripple beyond U.S. Gulf+5.8%

After 40 past bullish weather events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (63% higher; middle half -3.7% to +5.3%), and +6.1% over 20.

• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.3%
• Jul 11, 2019Oil slips 0.4% on dim OPEC demand forecast after early jump on Gulf of Mexico storm-6.2%
• Oct 10, 2018Hurricane knocks out 42 percent of U.S. Gulf of Mexico oil output-4.0%
• Dec 23, 2022Storm cuts U.S. oil, gas, power output, sending prices higher+3.3%
• Sep 15, 2020Oil jumps nearly 3% as Gulf Coast storm forces output cuts+5.5%