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Oil prices fell more than 5% on March 14, 2022, to their lowest in nearly two weeks. The decline followed hopes for progress toward ending Russia's invasion of Ukraine and a China travel ban that cast doubt on demand.
Hopes of a diplomatic end to the conflict would ease supply fears and lower energy costs, while China's travel restrictions signal weaker fuel and feed demand.
reuters.comScott DisavinoMar 14, 2022After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% 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.
On March 14 oil fell over 5% on Russia-Ukraine talk hopes and China lockdown demand worries, directly within the window's final day.
On March 14 oil fell more than 5% on Russia-Ukraine talk hopes and China lockdowns hurting demand, which fell directly within the window's final day.
Brent fell over 5% on March 14 on hopes for Russia-Ukraine talks progress and China travel restrictions that cast doubt on demand.
