Oil Futures Rise Amid Fragile Optimism Over ME Negotiations

After 63 past neutral geopolitics events, Crude Oil (Brent) moved a median -0.5% over 5 sessions (44% higher; middle half -4.4% to +2.6%), and -2.7% over 20.

• Aug 22, 2022Oil pares losses after Saudi oilmin says OPEC+ has options including cuts+4.6%
• Jul 13, 2018Oil rises but declines for the week as supply concerns ease-1.4%
• Nov 30, 2020Opec set for annual meeting to discuss next phase of oil production policy | The National+3.5%
• Nov 16, 2016Oil volatile as U.S. crude build faces OPEC freeze hopes+4.5%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-4.8%

After 60 past neutral geopolitics events, Crude Oil (WTI) moved a median -0.9% over 5 sessions (43% higher; middle half -4.7% to +2.3%), and -1.9% over 20.

• Aug 22, 2022Oil pares losses after Saudi oilmin says OPEC+ has options including cuts+0.9%
• Jul 13, 2018Oil rises but declines for the week as supply concerns ease-1.2%
• Nov 30, 2020Opec set for annual meeting to discuss next phase of oil production policy | The National+1.5%
• Nov 16, 2016Oil volatile as U.S. crude build faces OPEC freeze hopes+4.8%
• Jan 23, 2020Opec+ to discuss all options at March meeting, Saudi energy minister says | The National-6.1%