Oil futures slip 1% on worries about more U.S. interest rate hikes

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 4, 2022Oil falls over 3% after data raises Fed interest rate worries | Reuters-11.1%
• Sep 21, 2022Oil prices slide 1% after U.S. Fed raises interest rates-6.9%
• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+1.7%
• Jun 23, 2022Oil prices slump as investors fear Fed rate hikes will hurt demand | Reuters+4.5%
• May 19, 2021Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters+1.1%

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 4, 2022Oil falls over 3% after data raises Fed interest rate worries | Reuters-11.4%
• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+3.3%
• Jun 23, 2022Oil prices slump as investors fear Fed rate hikes will hurt demand | Reuters+4.3%
• May 19, 2021Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters-0.2%
• Aug 31, 2021Oil settles down 1% as U.S. refineries shut; Washington pushes OPEC to pump more | Reuters-0.4%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Dec 4, 2022Oil falls over 3% after data raises Fed interest rate worries | Reuters+0.3%
• Jun 23, 2023Stocks fall, dollar up as investors weigh more rate hikes | Reuters+0.6%
• Mar 2, 2023Dollar firms after U.S. labor data suggests more rate hikes | Reuters+0.7%
• Jun 13, 2018Dollar mostly firmer as Fed sees more U.S. rate hikes | Reuters+1.3%
• May 29, 2024Big moves ahead: ECB’s interest rate cut and the future of EUR/USD+1.1%