Loading…
Oil futures fell about 2.1% in the week to September 25, 2020, as new coronavirus waves and renewed lockdown fears raised doubts about crude demand. Rising Iraqi exports and signs of Libyan output recovery added supply pressure.
Weaker crude demand expectations lower energy costs for feed production and transport, while returning supply keeps the outlook range-bound.
worldoil.comAndres Guerra LuzSep 25, 2020After 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.
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.
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.
