U.S. oil plunges 25%, Brent falls below $20 a barrel

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.

• Mar 17, 2020Brent crude sinks below $30 a barrel as recession fears weigh-19.2%
• Dec 24, 2018US crude falls below $43 a barrel as stock market sinks-0.5%
• Aug 30, 2022Oil dives nearly $6 a barrel on demand fears, Iraq exports | Reuters-10.4%
• Mar 9, 2020Shares sunk by coronavirus panic, oil prices plunge | Reuters-23.0%
• May 11, 2023Oil falls 2% on weak US and Chinese economic data | Reuters+0.4%

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.

• Mar 17, 2020Brent crude sinks below $30 a barrel as recession fears weigh-12.6%
• Aug 30, 2022Oil dives nearly $6 a barrel on demand fears, Iraq exports | Reuters-9.2%
• Mar 9, 2020Shares sunk by coronavirus panic, oil prices plunge | Reuters-27.3%
• May 11, 2023Oil falls 2% on weak US and Chinese economic data | Reuters+0.5%
• Dec 4, 2022Oil falls over 3% after data raises Fed interest rate worries | Reuters-11.4%

After 204 past macro events, ULSD / Diesel moved a median -0.7% over 5 sessions (43% higher; middle half -4.5% to +1.8%), and -0.1% over 20.

• May 24, 2023Oil prices gain 2% on falling U.S. stockpiles, Saudi warning | Reuters-4.4%
• Mar 9, 2020Shares sunk by coronavirus panic, oil prices plunge | Reuters-17.1%
• Jul 5, 2022U.S. oil just tumbled below $100 a barrel — What that says about recession fears and tight crude supplies - MarketWatch-4.4%
• Jul 5, 2022Oil tumbles as much as 10%, breaks below $100 as recession fears mount-4.4%
• Dec 1, 2022U.S. diesel use slows as manufacturing, freight falter: Kemp | Reuters-17.4%