Oil climbs to highest in over two years as U.S. supplies tighten

After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.

• Jul 21, 2021Oil climbs over 4% despite rise in U.S. inventories | Reuters+6.4%
• Jun 27, 2018U.S. oil hits 3.5-year high after inventory draw+0.7%
• Mar 14, 2024Oil prices climb as revised IEA outlook signals tighter market | Reuters+2.6%
• Mar 9, 2018IEA cuts 2026 oil supply forecast as Mideast recovery slips to 2027+1.7%
• Sep 13, 2023OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says | Reuters+2.6%

After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.

• Jul 21, 2021Oil climbs over 4% despite rise in U.S. inventories | Reuters+7.2%
• Jun 27, 2018U.S. oil hits 3.5-year high after inventory draw+2.5%
• Mar 14, 2024Oil prices climb as revised IEA outlook signals tighter market | Reuters+2.2%
• Mar 9, 2018Global diesel supplies to remain tight until 2027, warns IEA+1.0%
• Mar 9, 2018IEA cuts 2026 oil supply forecast as Mideast recovery slips to 2027+1.0%