Oil prices rise for second day after Gulf of Oman tanker attacks

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.

• Sep 14, 2018Oil prices rise ahead of deadline for US sanctions on Iran | The National+1.2%
• May 5, 2022Opec+ sticks to June output plan as oil prices continue to rise | The National-2.5%
• Oct 11, 2019Oil rises 2% after reports of Iranian tanker attack | Reuters+0.9%
• Mar 25, 2024Oil prices rise amid worsening geopolitical outlook and tighter supply | The National+1.9%
• Mar 7, 2021Oil price rises above $70 after attacks on Saudi oil facilities-0.9%

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.

• Sep 14, 2018Oil prices rise ahead of deadline for US sanctions on Iran | The National+3.2%
• May 5, 2022Opec+ sticks to June output plan as oil prices continue to rise | The National-2.1%
• Oct 11, 2019Oil rises 2% after reports of Iranian tanker attack | Reuters+0.6%
• Mar 25, 2024Oil prices rise amid worsening geopolitical outlook and tighter supply | The National+4.1%
• Mar 7, 2021Oil price rises above $70 after attacks on Saudi oil facilities-0.7%