Oil Rises On US Stockpile Drawdown, Focus On Fed Meeting

After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.

• Jun 30, 2021Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder-1.2%
• Sep 9, 2026US EIA hikes oil price forecasts as Iran war drains global stockpile By Reuters+13.7%
• Aug 11, 2020EIA revises up 2020 oil price forecasts on larger forecast stock draws | Oil & Gas Journal+2.3%
• Sep 28, 2022Oil prices rise on surprise drop in U.S. crude, fuel stocks+10.1%
• Jun 20, 2024Oil prices rise on US crude draw; jobs data feeds rate cut hopes-0.7%

After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.

• Jun 30, 2021Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder+0.1%
• Sep 9, 2026US EIA hikes oil price forecasts as Iran war drains global stockpile By Reuters+17.0%
• Aug 11, 2020EIA revises up 2020 oil price forecasts on larger forecast stock draws | Oil & Gas Journal+1.2%
• Sep 28, 2022Oil prices rise on surprise drop in U.S. crude, fuel stocks+7.7%
• Jun 20, 2024Oil prices rise on US crude draw; jobs data feeds rate cut hopes+0.0%

After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% over 20.

• Jun 20, 2024Oil prices rise on US crude draw; jobs data feeds rate cut hopes+0.2%
• Jan 9, 2019US Dollar Falls, Gold Price Surpasses $1290 on Dovish FOMC Meeting Minutes-0.5%
• May 20, 2020Full Text of U.S. Federal Reserve April Meeting Minutes | Financial Post-0.8%
• Jul 31, 2020Oil on track for monthly gains as US cuts production - Markets - Business Recorder-0.3%
• Jan 29, 2020Gold drops following the Fed keeping rates unchanged, (targets 1.5% to 1.75%). — Octa+0.2%