Oil settles up 1.5%; hits multi-year highs on surging demand

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.

• Nov 10, 2022Oil prices settle 1% higher on tepid U.S. inflation data | Reuters-0.2%
• Aug 22, 2024Oil prices settle $1 up on hopes of a US Fed rate cut next month | Reuters+3.7%
• Feb 3, 2022Canadian dollar forecasts turn more bullish as oil hits 7-year high: Reuters poll+1.6%
• Dec 28, 2016Year-end flows drive C$, oil remains firm | Reuters+0.2%
• Oct 31, 2017Oil up near 2-year highs, analysts see more US crude exports+5.9%

After 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.

• Nov 10, 2022Oil prices settle 1% higher on tepid U.S. inflation data | Reuters-0.1%
• Aug 22, 2024Oil prices settle $1 up on hopes of a US Fed rate cut next month | Reuters+2.5%
• Oct 31, 2017Oil up near 2-year highs, analysts see more US crude exports+5.8%
• Dec 12, 2016Canadian dollar above 76 cents US as oil surges to 1½-year high | CBC News+2.7%
• Oct 15, 2021Oil prices rise to three-year high on back of supply deficit forecasts+0.8%

After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% over 20.

• Sep 30, 2021U.S. natgas futures jump to 7-year high on Europe supply fears | Reuters+4.2%
• Jul 12, 2021Supply struggles, not just demand, are fuelling LNG's price surge: Russell | Reuters-0.1%
• Sep 29, 2023GLOBAL LNG-Asia spot prices hit 7-month high on rising demand, Europe supply worries+7.0%
• Oct 21, 2021Surging Energy Prices May Not Ease Until Next Year+20.7%
• Apr 29, 2025US LNG exporters could lose out as AI gas demand booms | Reuters+11.1%