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Oil prices were steady as recession worries offset positive Chinese policy signals. China eased policy loan conditions and kept its key rate unchanged, while the Fed was expected to keep raising rates into next year.
Mixed demand signals leave crude prices range-bound, with limited direct effect on feed input costs in the near term.
reuters.comArathy SomasekharOct 17, 2022After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
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.
