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Brent crude for May rose $1.39 to settle at $85.42 a barrel, its highest close since early November. WTI for April climbed $1.54 to $81.26 after the IEA revised its outlook to show a tighter market.
A tighter supply outlook from the IEA supports higher crude prices, which raises energy and transport costs for feed buyers.
reuters.comArathy SomasekharMar 14, 2024After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% 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.
