Loading…
Oil prices dropped after an Energy Department report showed US stockpiles rose by 8.2 million barrels in a week. Concern about a glut spread, and executives including Continental Resources' chief Harold Hamm added to the selling.
A large inventory surprise triggered herd selling, which signals downward price pressure on crude and related energy costs for feed producers.
nytimes.comMar 10, 2017After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
