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WTI spot settled at $52.36 on January 15, just below a rally high of $53.93 on January 13. EIA's January outlook raised its 2021 WTI forecast to $49.70 a barrel, nearly $4 higher than in December, and expects global demand to rise by 5.6 million barrels a day in 2021.
An upward revised EIA crude forecast and steady demand recovery support higher energy input costs for feed production and transport.
fuelsmarketnews.comAlan H LevineJan 21, 2021After 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.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% 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.
