◂ Event Timeline

Aug 4, 2017MACROUS

Oil prices rise after strong US jobs data; rising exports cap gains

Oil prices rose 1.1% to $49.58 a barrel after a strong US July jobs report showed more hiring and higher wages than expected. Crude still posted a small weekly decline as rising OPEC exports and strong US output weighed on prices.

WHY IT MATTERS

Stronger US employment supports expectations of energy demand, which can lift crude and fuel prices. Rising OPEC and US output is the main counterweight, limiting gains.

AFFECTSCrude Oil (WTI)▲

SOURCE
cnbc.comReutersAug 4, 2017

Price reaction & history

Crude Oil (WTI)▲bullishSO FAR1d +1.1%5d -1.0%20d -3.6%

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.

Feb 1, 2019Oil rises on strong US jobs data and falling rig count-2.1%
May 28, 2026Palm Oil Prices Rise As Crude Oil Gains - Finimize+8.1%
Jun 8, 2020Stocks get a boost from US jobs data, oil rises after OPEC+ deal | Financial Markets | Al Jazeera-8.3%
Dec 24, 2024Oil prices up on US growth data+4.0%
Jan 18, 2024Oil prices rise on global demand forecasts, US crude stock draw+3.6%

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.

Crude Oil (WTI) WTI · GP ▸

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