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Oil rose on March 1 as OPEC supply cuts tightened markets, with WTI at $57.45 and Brent at $66.55. Venezuelan exports fell about 40% since U.S. sanctions in January.
Surging U.S. output and global slowdown concerns limited gains.
OPEC cuts and Venezuelan supply losses support crude, but rising U.S. output and demand worries cap the rally, leaving the price outlook mixed for energy costs in feed production.
m.economictimes.comREUTERSMar 1, 2019After 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.
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.
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.
