Loading…
Reports said OPEC and non-OPEC producers including Russia may form a long-term production-control alliance effective by December 2018. WTI rebounded toward $61.50 on February 16, 2018 as the dollar weakened.
A durable OPEC-Russia alliance would support crude prices, while a weaker dollar supports dollar-priced commodities. Both factors can lift energy and biofuel input costs.
octaafrica.netFeb 16, 2018After 438 past bullish policy events, WTI moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
After 442 past bullish policy events, BRENT moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 15 past bearish policy events, DXY moved a median -0.5% over 5 sessions (27% higher; middle half -0.7% to +0.0%), and -0.0% 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.
