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The EIA reports that the S&P GSCI energy index fell 21% in 2018 after rising 25% through early October. Crude and petroleum product declines in Q4 2018 drove most of the drop.
WTI and Brent make up 71% of the index weighting.
Lower energy prices reduce input costs for fertilizer, freight and biofuel economics, which can weigh on grain and oilseed values. The article reviews 2018 rather than new developments.
eia.govJan 2, 2019After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% 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.
