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West Texas Intermediate settled at $83.71, its highest close since late October. Mexico's state oil company Pemex plans to halt some crude exports over the next few months.
A cut in Mexican crude exports reduces global supply and supports crude prices, which feeds into diesel and fertilizer costs.
bloomberg.comJulia FanzeresMar 31, 2024After 36 past bullish trade events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (69% higher; middle half -2.0% to +4.5%), and +0.7% 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.
