Oil rises on fresh tanker attacks, but heads for steep weekly loss

After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.

• Jun 14, 2019Oil prices rise for second day after Gulf of Oman tanker attacks | The National+4.3%
• Jul 1, 2019Oil's Surge on Tanker Attacks Muted by Demand Fears-4.2%
• Oct 11, 2019Oil rises 2% after reports of Iranian tanker attack | Reuters+0.9%
• Mar 7, 2021Oil price rises above $70 after attacks on Saudi oil facilities-0.9%
• Sep 16, 2019Oil surges as Saudi attack focuses market on supply risks+6.6%

After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.

• Jun 14, 2019Oil prices rise for second day after Gulf of Oman tanker attacks | The National+8.5%
• Jul 1, 2019Oil's Surge on Tanker Attacks Muted by Demand Fears-1.4%
• Oct 11, 2019Oil rises 2% after reports of Iranian tanker attack | Reuters+0.6%
• Mar 7, 2021Oil price rises above $70 after attacks on Saudi oil facilities-0.7%
• Sep 16, 2019Oil surges as Saudi attack focuses market on supply risks+5.8%