Loading…
Brent settled up 14.6% at $69.02 on September 16, its largest one-day percentage gain since at least 1988, after an attack on Saudi crude facilities halved the kingdom's production. WTI rose 14.7% to $62.90, and Brent trading volume hit an all-time daily record.
A supply shock of this size lifts energy prices across the board, raising fuel, freight and processing costs that flow into feed prices.
gcaptain.comReutersSep 16, 2019After 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.
Confirms the Brent settlement surge after the attack halved Saudi production.
