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S&P Global commentary says energy security concerns are emerging as the oil market enters early recovery from the pandemic. Dated Brent has traded in the low-to-mid $60s after rising more than 50% since November on vaccine-driven optimism.
Expectations of limited non-OPEC supply later on could support crude prices, which feeds into biofuel margins and freight and input costs for feed producers.
spglobal.comApr 22, 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.
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.
