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Oil futures fell, with Brent at three-week lows and US crude at six-week lows, as investors priced in higher output from Russia and Saudi Arabia. Both countries are considering production increases while US output rises to record highs.
Expected production increases from Russia, Saudi Arabia and the US point to a more ample crude supply and lower energy prices. Cheaper crude eases input and transport costs for feed buyers.
economies.comRami HaddadMay 29, 2018After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
