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Saudi Energy Minister Khalid al-Falih described his meeting with Russian President Putin at St. Petersburg, focused on joint investment and energy projects. He also discussed Russian oil and gas resources and possible investment in Russian services and chemicals.
The interview is about investment cooperation rather than near-term supply changes, so it has little direct effect on feed commodity prices. It does signal closer Saudi-Russian ties within the OPEC-non-OPEC framework.
tass.comJun 3, 2017After 948 past geopolitics events, Crude Oil (WTI) moved a median +0.6% over 5 sessions (53% higher; middle half -3.7% to +5.8%), and -0.1% over 20.
After 970 past geopolitics events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (55% higher; middle half -4.1% to +4.9%), and -0.3% over 20.
After 327 past geopolitics events, ULSD / Diesel moved a median +1.0% over 5 sessions (54% higher; middle half -3.9% to +7.5%), and +0.4% 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.
