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OPEC+ talks collapse; Saudi Arabia slashes prices and lifts output, crashing crude and ethanol margins.
WikipediaAfter 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 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.
After 144 past geopolitics events, Soybean Oil moved a median +0.6% over 5 sessions (56% higher; middle half -1.9% to +3.2%), and -0.6% over 20.
After 464 past geopolitics events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.6% to +2.5%), and +0.5% 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.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase created an expected supply glut, driving WTI's historic plunge into the March 9 window close.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase signaled a sudden supply glut, directly triggering the record one-day WTI crash on March 9.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase created an expected supply glut, driving WTI's historic plunge into the March 9 window close.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase signaled a sudden supply glut, directly triggering the record one-day WTI crash on March 9.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase crashed crude prices on 2020-03-09, directly lowering the feedstock cost and price of ULSD amid a looming supply glut.
The collapse of OPEC+ talks and Saudi Arabia's price cuts and output increase crashed crude prices on 2020-03-09, directly lowering the feedstock cost and price of ULSD amid a looming supply glut.
