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Goldman Sachs expects the Bank of England to raise rates by 25 basis points in February 2027, taking the terminal rate to 4.25%. The accompanying market snapshot shows crude oil falling about 2% to around $110 and the dollar index roughly flat near 101.9.
Expectations of further BoE tightening support sterling and marginally weigh on the dollar, while the snapshot's lower crude prices reduce energy-driven feed and freight cost pressure. The rate path itself is a modest driver for commodity pricing.
fxbus.comNov 2, 2026Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
