Oil rises to 7-year high as Turkey outage adds to tight supply outlook

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Apr 18, 2022Oil rises over 1% as Libya outages add to Russia supply fears-4.8%
• Mar 28, 2024Oil rises more than $1 a barrel on tighter supply outlook+5.8%
• Jun 28, 2018Oil trades near three-year high as Libya crisis tightens supply+0.7%
• Jun 29, 2018Oil hits new multi-year high as market tightens on lost supply+0.2%
• Mar 4, 2022Oil surges to multi-year highs as Russian supply shortfall looms-0.9%

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Apr 18, 2022Oil rises over 1% as Libya outages add to Russia supply fears-4.0%
• Mar 28, 2024Oil rises more than $1 a barrel on tighter supply outlook+6.4%
• Jun 28, 2018Oil trades near three-year high as Libya crisis tightens supply-3.7%
• Jun 29, 2018Oil hits new multi-year high as market tightens on lost supply+0.5%
• Mar 4, 2022Oil surges to multi-year highs as Russian supply shortfall looms-1.6%