Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar

After 24 past bullish weather events, Crude Oil (Brent) moved a median +2.8% over 5 sessions (67% higher; middle half -1.9% to +5.2%), and +6.3% over 20.

• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.1%
• Oct 27, 2020Oil jumps more than 2% on U.S. Gulf shutdowns-3.5%
• Jan 16, 2026Oil prices rise as supply risk remain in focus-0.3%
• Jun 21, 2023Oil rallies as grain markets tighten, dollar falls on Fed Chair comments-5.0%
• Sep 15, 2020Oil jumps nearly 3% as Gulf Coast storm forces output cuts+4.6%

After 40 past bullish weather events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (63% higher; middle half -3.7% to +5.3%), and +6.1% over 20.

• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.3%
• Oct 27, 2020Oil jumps more than 2% on U.S. Gulf shutdowns-4.6%
• Jan 16, 2026Oil prices rise as supply risk remain in focus+2.8%
• Jun 21, 2023Oil rallies as grain markets tighten, dollar falls on Fed Chair comments-4.4%
• Sep 15, 2020Oil jumps nearly 3% as Gulf Coast storm forces output cuts+5.5%

After 13 past bearish weather events, US Dollar (Broad) moved a median -0.2% over 5 sessions (38% higher; middle half -0.8% to +0.3%), and -0.3% over 20.

• Jan 6, 2025U.S. grains: Chicago corn surges to six-month high on weaker dollar, Argentina weather - AgCanada+0.3%
• Jun 21, 2023Oil rallies as grain markets tighten, dollar falls on Fed Chair comments-0.0%
• Mar 6, 2026Soybeans, corn, wheat see more support from drop in the dollar - Brownfield Ag News+0.2%
• Jan 7, 2025Chicago corn pulls back from 6-month peak, Argentina dryness caps losses - Markets - Business Recorder+1.2%
• Nov 21, 2023Soybeans up for 2nd session on Brazilian dryness; wheat rebounds - Markets - Business Recorder-0.6%