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The International Energy Agency said OPEC and its allies appear to have achieved their goal of bringing global oil stocks down to the five-year average. It warned that developed-country stocks could reach that level as early as May.
If supply stays restrained and stocks fall to target, markets could tighten, which supports higher crude prices and raises input costs for feed and transport.
financialpost.comReutersApr 13, 2018After 131 past bullish report events, WTI moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, BRENT moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% 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.
