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Oil rose on Sept 27 after US crude stocks fell by 215,000 barrels, with gasoline and distillate inventories down 2.4 million and 2.9 million barrels. Brent gained 3.5% to $89.32 and WTI rose 4.65% to $82.15, with about 190,000 bpd of Gulf output shut in by Hurricane Ian.
Unexpected inventory draws and hurricane outages tighten near-term fuel supply, supporting crude and diesel costs. A stronger dollar partly offset the gain by reducing demand from non-dollar buyers.
cnbc.comReutersSep 28, 2022After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% 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.
