Oil hits new multi-year high as market tightens on lost supply

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 28, 2018Oil trades near three-year high as Libya crisis tightens supply-3.7%
• Sep 29, 2018Brent hits 4-year high as U.S. sanctions on Iran tighten supply+1.5%
• Mar 4, 2022Oil surges to multi-year highs as Russian supply shortfall looms-1.6%
• Jan 19, 2022Oil rises to 7-year high as Turkey outage adds to tight supply outlook+1.0%
• Mar 1, 2019Oil prices rise as markets tighten due to OPEC supply cuts-1.0%

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 28, 2018Oil trades near three-year high as Libya crisis tightens supply+0.7%
• Sep 29, 2018Brent hits 4-year high as U.S. sanctions on Iran tighten supply+2.3%
• Mar 4, 2022Oil surges to multi-year highs as Russian supply shortfall looms-0.9%
• Jan 19, 2022Oil rises to 7-year high as Turkey outage adds to tight supply outlook+0.8%
• Mar 1, 2019Oil prices rise as markets tighten due to OPEC supply cuts+0.0%