Oil surges through $60 a barrel level

After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.

• Oct 30, 2017Oil prices steady above $60 a barrel as cuts extension looks likely | The National+2.4%
• Apr 2, 2023Saudi Arabia, UAE and allies announce surprise oil production cuts | The National+7.4%
• Oct 1, 2023Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December-9.8%
• Sep 23, 2017Opec and Russia say global oil glut halfway cleared | The National-0.4%
• May 19, 2019Opec+ to target crude inventory levels while ensuring market is well-supplied | The National-6.5%

After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.

• Oct 30, 2017Oil prices steady above $60 a barrel as cuts extension looks likely | The National+3.2%
• Apr 2, 2023Saudi Arabia, UAE and allies announce surprise oil production cuts | The National+5.4%
• Oct 1, 2023Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December-8.8%
• Sep 23, 2017Opec and Russia say global oil glut halfway cleared | The National+2.4%
• May 19, 2019Opec+ to target crude inventory levels while ensuring market is well-supplied | The National-6.8%

After 15 past bearish policy events, US Dollar (Broad) moved a median -0.5% over 5 sessions (27% higher; middle half -0.7% to +0.0%), and -0.0% over 20.

• Feb 16, 2018Crude Oil/WTI: Oil caught a bid on report of OPEC-NOPEC long-term alliance and softer USD — Octa+0.6%
• Nov 9, 2020Oil rises as Biden wins, OPEC+ signals deal can be tweaked | Financial Post-0.1%
• Mar 24, 2020How the U.S. could intervene to weaken its surging dollar By Reuters-2.3%
• Aug 27, 2020The Mexican peso loses 24 cents against the dollar - Opportimes-0.5%
• Aug 28, 2017China's Central Bank Is Embracing a Supercharged Yuan - Bloomberg-0.3%