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Brent fell about 1.2% to $81.26 a barrel and WTI fell 1.7% to $77.04 on November 25, 2021, extending losses for a third session. Traders focused on a possible supply surplus in the first quarter after the coordinated release of strategic crude reserves led by the United States.
A coordinated reserve release and OPEC panel forecasts of a growing surplus add near-term supply, which tends to weigh on crude prices.
cnbc.comReutersNov 26, 2021After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
