Loading…
Nomura says a sustained oil price rise driven by supply would widen performance gaps among emerging markets, hurting large net oil importers such as India and the Philippines. Brent was trading at $74 a barrel, up 20% from February lows.
Rising US yields are also cited as pressure on India's current account and the rupee.
Higher crude prices raise import bills for oil-importing emerging markets and can weaken their currencies, which affects their demand for feed and energy inputs. The note points to a supply-driven oil rally as the key driver.
business-standard.comSamie ModakApr 26, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
