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The ringgit closed higher against the dollar on September 25, at 4.6850/6880, supported by rising oil prices. Brent rose 0.44% to $93.68 and WTI to $90.33.
Russia announced a ban on gasoline and diesel exports, and the analyst flagged a possible US government shutdown as a risk.
Higher crude prices and Russia's fuel export ban tighten energy markets and support oil-linked currencies, while lifting diesel and freight costs for feed producers.
alphasoutheastasia.comEditorialSep 25, 2023After 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.
After 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 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
