
The rupee opened 29 paise higher at 94.35 per dollar, extending its winning streak to a fifth session. Brent fell to $93.46 and WTI to $86.65, extending losses to about 16% for the week after the Democratic congressional wins.
Expectations of a negotiated end to the Iran war are pulling the geopolitical premium out of crude. Lower oil reduces import costs and supports currencies of oil-importing economies.
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.
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.
Not enough comparable past events yet for a historical read.
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.