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EIA reports Brent averaged $72/bbl and WTI $65/bbl in 2018, with both ending the year lower than they started. Brent hit an annual low of $50 on December 24 and US crude output reached record levels.
The sharp late-2018 sell-off and record US output show a well-supplied market, which keeps energy input costs for feed producers under pressure to stay low.
eia.govU.S. Energy Information Administration (EIA) (.gov)Feb 1, 2019After 56 past neutral report events, Crude Oil (WTI) moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% over 20.
After 41 past neutral report events, Crude Oil (Brent) moved a median -1.4% over 5 sessions (41% higher; middle half -4.0% to +1.9%), and +1.8% 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.
