Crude futures rose in Asian trade on October 30 after the prior day's plunge. Traders bought the dip, and a strong US third-quarter GDP rebound and signals of a possible ECB stimulus package in December supported prices.
Brent December was up 0.66% at $37.90 a barrel.
Expectations of stimulus and firmer economic data support energy and risk sentiment, which can offset some of the demand pressure on biofuel feedstocks.
After 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.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.