Loading…
US crude settled up 16 cents at $48.23 a barrel on September 12 after OPEC reported its August output fell for the first time since March and forecast higher 2018 demand. Hurricane Irma's demand effects were being assessed, while US refinery restarts after Harvey supported consumption expectations.
OPEC's reported output decline and firmer demand outlook support crude and fuel prices. Refinery restarts after Harvey support diesel demand, which lifts energy input costs for feed producers.
cnbc.comReutersSep 12, 2017After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% 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.
