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U.S. crude settled at $63.14 after dropping 6.6 percent for the week, its fourth straight weekly loss. Secretary of State Mike Pompeo said several buyers, including eight jurisdictions reportedly including South Korea, Japan and India, would receive sanctions waivers to keep importing Iranian oil.
Waivers letting major buyers keep importing Iranian crude add supply to a market already filling inventories, pressuring crude lower.
cnbc.comReutersNov 2, 2018After 215 past bearish policy events, Crude Oil (WTI) moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% 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.
