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Energy prices rebounded on February 3 after a sell-off, with ULSD up about 3.5 cents, RBOB up about 2 cents and crude up about 40 cents per barrel. The U.S. said it would cut tariffs on Indian goods in exchange for a pledge from Indian refiners to stop buying Russian oil, and China announced plans to reopen a shuttered refinery to run on Russian crude.
Tariff relief tied to India's halting of Russian crude purchases shifts global crude flows and could tighten supply for some buyers, while China's refinery restart adds Russian crude demand. Diesel stays tight with utilities restocking, supporting fuel costs.
tacenergy.comFeb 3, 2026After 36 past bullish trade events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (69% higher; middle half -2.0% to +4.5%), and +0.7% over 20.
After 16 past bullish trade events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (81% higher; middle half +0.5% to +4.8%), and +5.9% over 20.
After 26 past bullish trade events, ULSD / Diesel moved a median -1.9% over 5 sessions (31% higher; middle half -5.6% to +1.6%), and -4.8% 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.
