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Crude oil rose on Tuesday, recovering a prior day's losses, after a Joint Ministerial Monitoring Committee report showed OPEC+ compliance with production limits at high levels and expected significant inventory declines in the second half. WTI gained about 1.6% to $54.40 and Brent rose 0.8% to $58.58.
Deeper OPEC+ cuts tighten crude balances, supporting energy costs for feed production, transport and fertilizer, while trade-war demand worries cap gains.
finance.yahoo.comInvesting.comAug 27, 2019After 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.
After 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.
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.
