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CME analysis says oil prices are rising on strong global growth and a renewed Mideast risk premium. It contrasts this cycle with past episodes, noting shale supply may respond faster to price and that the U.S. is now a net exporter.
Faster shale response caps the upside in crude, which limits energy-driven pressure on feed and fertilizer costs. Higher crude still supports biofuel feedstock economics.
cmegroup.comCME GroupMay 1, 2018After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
