Oil drops more than 8% as fears over second wave of coronavirus cases hit the market

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.

• Feb 26, 2020Oil prices drop to lowest in more than a year as coronavirus spreads-5.2%
• Jan 27, 2020Stocks and Oil Drop, Gold Rises As Wuhan Coronavirus Spreads - Markets Insider-4.7%
• Feb 27, 2020Oil prices dive to lowest in over a year on coronavirus fears | Reuters-3.9%
• Mar 27, 2020Oil drops as demand fears overshadow stimulus hopes+37.1%
• Jan 29, 2020Coronavirus could propel Bank of Canada to trim rates sooner than during SARS crisis - The Globe and Mail-7.1%

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.

• Feb 26, 2020Oil prices drop to lowest in more than a year as coronavirus spreads-5.6%
• Jan 27, 2020Stocks and Oil Drop, Gold Rises As Wuhan Coronavirus Spreads - Markets Insider-3.4%
• Feb 27, 2020Oil prices dive to lowest in over a year on coronavirus fears | Reuters-5.0%
• Mar 27, 2020Oil drops as demand fears overshadow stimulus hopes-1.2%
• Jul 1, 2023Oil drops 1.5% as Fed projects more rate hikes this year+5.2%