Loading…
OPEC+ finalized its oil cut agreement, ending a price war between Saudi Arabia and Russia. Analysts warn that coronavirus demand losses will continue to weigh on the market despite the deal.
Supply cuts offer some price support for energy, but the demand shock limits upside, keeping input and biofuel-linked costs under pressure for feed buyers.
spglobal.comApr 12, 2020After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
