Oil inches down as US inflation data, rising OPEC output weigh

After 312 past bearish macro events, BRENT moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• May 3, 2024Oil settles down on US jobs data, steepest weekly loss in 3 months | Reuters-0.8%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+4.9%
• Aug 31, 2021Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more | Reuters-0.4%
• May 18, 2023Oil prices settle down 1%; strong US data boosts dollar | Reuters+1.6%
• May 11, 2023Oil falls 2% on weak US and Chinese economic data | Reuters+0.5%

After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• May 3, 2024Oil settles down on US jobs data, steepest weekly loss in 3 months | Reuters+0.4%
• Jun 1, 2025Oil falls as higher OPEC+ output expectations weigh on sentiment+6.2%
• Aug 31, 2021Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more | Reuters-1.2%
• May 18, 2023Oil prices settle down 1%; strong US data boosts dollar | Reuters+2.1%
• May 11, 2023Oil falls 2% on weak US and Chinese economic data | Reuters+0.4%