Oil prices settle down on fears of Fed and oil profit tax

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.

• Mar 17, 2023Oil prices settle down, post big weekly losses on bank fears | Reuters+1.6%
• Jun 17, 2018The Fed Is Driving Down Oil Prices | OilPrice.com+2.6%
• May 18, 2023Oil prices settle down 1%; strong US data boosts dollar | Reuters+1.6%
• May 19, 2021Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters-0.2%
• Feb 1, 2025Oil prices settle pennies higher, down for week as Trump touts energy policy-2.9%

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.

• Mar 17, 2023Oil prices settle down, post big weekly losses on bank fears | Reuters+2.4%
• Jun 17, 2018The Fed Is Driving Down Oil Prices | OilPrice.com+5.9%
• May 18, 2023Oil prices settle down 1%; strong US data boosts dollar | Reuters+2.1%
• May 19, 2021Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes | Reuters+1.1%
• Feb 1, 2025Oil prices settle pennies higher, down for week as Trump touts energy policy-2.1%