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The attack on a Saudi oil installation reportedly removed about half of the kingdom's production capacity, unsettling stock and emerging-market currency markets. The rand fell sharply the prior week, while the Fed cut rates but signaled no start to a downward cycle, and the SARB held rates.
Oil supply disruption and a hawkish Fed weigh on emerging-market currencies, raising import costs for South African feed buyers and keeping energy-driven inflation risk elevated.
iol.co.zaChris HarmseSep 23, 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.
Not enough comparable past events yet for a historical read.
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.
