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Brent settled above $85 a barrel, its highest since October 2018, as forecasts of a supply deficit emerged and coronavirus travel curbs eased. WTI rose for an eighth straight week.
Sustained crude strength raises diesel and fertilizer input costs and supports biofuel-linked vegetable oil demand, lifting feed cost expectations.
reuters.comLaura SanicolaOct 15, 2021After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
