Oil prices rise on global demand forecasts, US crude stock draw

After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.

• Jan 30, 2024Crude oil prices today: WTI, Brent rise after IMF forecast-5.2%
• Oct 15, 2021Oil prices rise to three-year high on back of supply deficit forecasts+1.5%
• May 28, 2026Palm Oil Prices Rise As Crude Oil Gains - Finimize+8.1%
• Oct 30, 2020Crude futures rise on ECB stimulus expectations, robust US economic data | S&P Global+7.3%
• Mar 31, 2023Oil Rises On Cooling US Inflation, Lower Global Supplies+8.6%

After 323 past bullish macro events, BRENT moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.

• Jan 30, 2024Crude oil prices today: WTI, Brent rise after IMF forecast-5.5%
• Oct 15, 2021Oil prices rise to three-year high on back of supply deficit forecasts+0.8%
• Apr 30, 2026Global energy costs rise as Iran war affects Brent crude oil price | AP News-15.3%
• Oct 30, 2020Crude futures rise on ECB stimulus expectations, robust US economic data | S&P Global+8.3%
• Apr 9, 2024Morgan Stanley lifts Q3 Brent crude oil forecast on geopolitical risk-0.6%