Oil prices reverse late in session as heating oil contract plunges

After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.

• Jun 22, 2018Crude oil prices jump in reaction to OPEC deal By Seeking Alpha+11.9%
• Sep 17, 2020Oil reverses losses to gain 2% as OPEC urges compliance with production cuts-0.6%
• Nov 22, 2022Oil rises as Saudi comments outweigh recession concerns-2.1%
• Oct 10, 2019Oil prices rise as OPEC pledges decision on supply | Financial Post+1.5%
• Jan 4, 2022Oil prices jump as Opec+ agrees to continue output increase in February | The National+2.8%

After 27 past neutral policy events, ULSD / Diesel moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% over 20.

• Jun 1, 2026Renewable fuel credit prices hit records on U.S. biofuel mandates, oil market volatility+1.7%
• Aug 27, 2020Crude oil or cooking oil? For some U.S. refiners, it's now a choice-4.5%
• Sep 2, 2026CBOT soybean oil rises 7.2% as EPA reallocation shifts biofuel outlook | S&P Global+2.7%
• Aug 8, 2018Brazil Bases Diesel Price Formula on S&P Global Platts Price Assessments - Aug 8, 2018-1.8%
• Oct 23, 2019A conference on IMO 2020 impact shows how many questions remain as new rule approaches - FreightWaves+0.4%