Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens

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.

• Oct 1, 2020Oil dips nearly 4% on weak demand outlook and higher OPEC output+1.7%
• Aug 1, 2022Oil sinks about 4% after weak factory data sparks demand concerns-11.9%
• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+21.9%
• Mar 29, 2020OIL FUTURES: WTI tests $20/b as pandemic-weakened demand outlooks dim+21.9%
• Mar 19, 2021Oil battered in ugly week as demand concerns, dollar spur slump-1.8%

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.

• Oct 1, 2020Oil dips nearly 4% on weak demand outlook and higher OPEC output-0.6%
• Aug 1, 2022Oil sinks about 4% after weak factory data sparks demand concerns-9.5%
• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+64.1%
• Mar 29, 2020OIL FUTURES: WTI tests $20/b as pandemic-weakened demand outlooks dim+64.1%
• Mar 19, 2021Oil battered in ugly week as demand concerns, dollar spur slump-2.4%