Loading…
Crude prices rose ahead of the OPEC+ policy meeting, now moved to June 2 in virtual format after the death of Iran's president. Brent and WTI were near $83 and $78, with year-to-date gains of about 5% in futures.
Expectations that OPEC+ will extend production cuts support crude prices, which raise energy and transport costs across feed supply chains.
euronews.comMay 28, 2024After 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.
