Loading…
Reuters columnist John Kemp says growing freight demand is helping rebalance the oil market and lift prices. He expects higher incomes in commodity-exporting countries and further freight and fuel demand growth in 2018.
Stronger trade volumes lift shipping and fuel demand, supporting crude and freight rates. Price implication is higher crude and ocean freight.
reuters.comSep 27, 2017After 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.
After 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.
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.
