Plunging oil prices show the market is worried about 2019 recession

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.

• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.8%
• Jul 1, 2022Oil prices fall due to recession worries-0.9%
• Dec 22, 2018The FreightWaves oil report: a tumbling market pushes prices down to levels of mid-2017 - FreightWaves-0.5%
• Aug 21, 2019Weekly Pricing Pulse: Recession worries undercut commodity prices-2.2%
• Mar 11, 2020Ag Markets Feel Pinch As Oil Prices Plunge - ProAg-21.7%

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.

• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.1%
• Jul 1, 2022Oil prices fall due to recession worries-7.1%
• Dec 22, 2018The FreightWaves oil report: a tumbling market pushes prices down to levels of mid-2017 - FreightWaves-1.3%
• Mar 11, 2020Ag Markets Feel Pinch As Oil Prices Plunge - ProAg-22.1%
• Jul 5, 2022Oil could plummet to the $60s if a recession hits, Citi speculates-4.9%