Oil falls to three-month low on inflation worries, U.S. bank shutdowns

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

• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+3.3%
• Dec 1, 2021Omicron pushes oil prices to three-month lows | OilNOW+6.8%
• Mar 18, 2020Oil falls 24% in 3rd worst day on record, sinks to more than 18-year low-9.0%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.1%
• Oct 1, 2025Oil slumps to 16-week low on U.S. shutdown and possible OPEC+ plans-2.2%

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

• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+1.7%
• Jul 18, 2023Canada's inflation falls to 27-month low but underlying pressures persist | Reuters+6.2%
• Dec 1, 2021Omicron pushes oil prices to three-month lows | OilNOW+8.8%
• Mar 18, 2020Oil falls 24% in 3rd worst day on record, sinks to more than 18-year low-18.5%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.8%