MARKET WATCH: NYMEX, Brent oil prices drop more than $1/bbl

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Feb 26, 2020Oil prices drop to lowest in more than a year as coronavirus spreads-5.2%
• May 30, 2023Canadian dollar dips as oil prices fall more than 4%-0.4%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.8%
• Jun 11, 2020Oil drops more than 8% as fears over second wave of coronavirus cases hit the market-4.1%
• Oct 4, 2023Oil plunges $5 in biggest one-day drop in more than a year-3.7%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Feb 26, 2020Oil prices drop to lowest in more than a year as coronavirus spreads-5.6%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.1%
• Jun 11, 2020Oil drops more than 8% as fears over second wave of coronavirus cases hit the market-2.1%
• Oct 4, 2023Oil plunges $5 in biggest one-day drop in more than a year-3.8%
• Feb 24, 2020Oil slides into bear market territory, posting worst day in more than a month-13.0%