Oil Falls As Rise In US Crude Stocks Fans Over-Supply Fears

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Dec 24, 2018US crude falls below $43 a barrel as stock market sinks-0.5%
• Aug 16, 2023Oil settles lower as China fears, rate hikes counter tight US supply-0.9%
• Mar 11, 2020Carnage in Latin America as oil plummets; coronavirus fears rise | OilNOW-21.7%
• Aug 20, 2020Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder+0.8%
• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+1.7%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Aug 16, 2023Oil settles lower as China fears, rate hikes counter tight US supply-1.4%
• Mar 11, 2020Carnage in Latin America as oil plummets; coronavirus fears rise | OilNOW-22.1%
• Aug 20, 2020Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder+0.9%
• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+3.3%
• Dec 12, 2023Oil falls more than 3% on softening demand, oversupply concerns | Reuters+3.3%