Oil prices slide 1%, settle at 7-week low on China worries

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.

• Dec 23, 2016C$ hits a 5-week low on soft data, lower oil prices+2.8%
• Mar 17, 2023Oil prices settle down, post big weekly losses on bank fears | Reuters+2.4%
• Jul 7, 2026Oil prices settle at pre-Iran war levels as crude output grows+13.9%
• Oct 16, 2024Oil prices hold at 2-week low on lower oil demand growth forecasts+2.2%
• Jul 6, 2022Oil slides 2% to 12-week low on fears of global recession-3.8%

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%
• Oct 16, 2024Oil prices hold at 2-week low on lower oil demand growth forecasts+2.5%
• Jul 7, 2026Oil prices settle at pre-Iran war levels as crude output grows+16.5%
• Jul 6, 2022Oil slides 2% to 12-week low on fears of global recession-3.2%
• Jun 14, 2022Oil prices settle down on fears of Fed and oil profit tax-7.7%