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Oil is trading cautiously after US crude's best week since 2016, with US-Iran tensions making traders wary. An OPEC+ meeting on 1-2 July and a possible US-China preliminary trade deal ahead of the G20 are key events.
Gold is consolidating near $1,400 an ounce while awaiting a widely expected Fed rate cut.
Geopolitical risk and OPEC+ decisions could swing crude sharply, which feeds into biofuel and freight costs, while a possible US-China trade deal would support soybean and corn export expectations.
investing.comJun 24, 2019After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.
After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.
After 20 past neutral geopolitics events, Soybeans moved a median -0.6% over 5 sessions (45% higher; middle half -2.2% to +1.5%), and +0.9% 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.
