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S&P Global Ratings expects crude oil prices to remain range-bound in the first half of 2018, supported by OPEC cuts and limited by US shale growth. WTI was about $57.69 and Brent about $63.20 on the day the outlook was reported.
A range-bound outlook suggests limited upside for crude, which keeps energy input costs for feed producers relatively steady. The forecast depends on how US shale responds to OPEC's decision.
business-standard.comT E NarasimhanDec 1, 2017After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% 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.
