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Crude oil fell sharply on Feb 25 after US President Trump called on OPEC to ease its output cuts, with April WTI settling at $55.48, down 3.11 percent. Brent settled at $64.76, down 3.52 percent.
Gains from progress in US-China trade talks were erased in the session.
Political pressure to lift output raises the risk of more supply, which pushes crude lower. Lower crude reduces biofuel and energy costs that support vegetable oil and feed prices.
spragueenergy.comspragueoperatiFeb 26, 2019After 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.
