# Oil Hits March High With Transition Stoking Rally Across Markets - Bloomberg

> Oil prices rose 4.3% in New York to their highest since early March. Forward curves for WTI and Brent strengthened on rising Asian demand and progress toward a widespread vaccine rollout, while the Dow passed 30,000.

- Date: 2020-11-23 · published 2020-11-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/50314-oil-hits-march-high-with-transition-stoking-rally-across-markets-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A broad energy and risk-asset rally lifts input costs and biofuel economics, supporting vegetable oil prices and modestly firming feed-related commodity sentiment.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-05-07 | [Dollar marches to 4-month high as oil rally points to higher inflation - MarketWatch](https://feedsoft.ai/events/65209-dollar-marches-to-4-month-high-as-oil-rally-points-to-higher-inflation.md) | +1.4% | -7.1% |
| WTI | 2023-05-28 | [Oil ticks up as markets weigh U.S. debt deal, rate hike possibility](https://feedsoft.ai/events/35844-oil-ticks-up-as-markets-weigh-u-s-debt-deal-rate-hike-possibility.md) | -0.4% | -6.6% |
| WTI | 2022-07-01 | [Palm oil falls 4% on recession fears, higher supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/6225-palm-oil-falls-4-on-recession-fears-higher-supply-outlook-markets-business.md) | -0.9% | -6.2% |
| WTI | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -2.4% | +1.3% |
| WTI | 2026-07-23 | [Traders stick with ECB rate-hike bets as oil touches $100 once more - AOL](https://feedsoft.ai/events/18558-traders-stick-with-ecb-rate-hike-bets-as-oil-touches-100-once-more-aol.md) | -2.1% | -0.7% |
| BRENT | 2023-05-28 | [Oil ticks up as markets weigh U.S. debt deal, rate hike possibility](https://feedsoft.ai/events/35844-oil-ticks-up-as-markets-weigh-u-s-debt-deal-rate-hike-possibility.md) | +0.0% | -3.4% |
| BRENT | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -5.1% | -1.7% |
| BRENT | 2026-07-23 | [Traders stick with ECB rate-hike bets as oil touches $100 once more - AOL](https://feedsoft.ai/events/18558-traders-stick-with-ecb-rate-hike-bets-as-oil-touches-100-once-more-aol.md) | -2.9% | -2.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-11-23/oil-rally-pauses-as-virus-surge-highlights-urgency-on-vaccine

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.