Oil prices fall as economic outlook deteriorates: Kemp

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.

• Sep 18, 2024Oil prices fall as Fed rate cut stirs economic worries, storage report mixed | Reuters+1.5%
• Apr 21, 2021Oil prices drop as India’s COVID-19 surge dents demand outlook | Reuters+0.6%
• Mar 25, 2021Oil prices drop 4% as new lockdowns undermine hopes for economic recovery-0.8%
• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+21.9%
• Jul 1, 2022Oil prices fall due to recession worries-7.1%

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.

• Sep 18, 2024Oil prices fall as Fed rate cut stirs economic worries, storage report mixed | Reuters+0.3%
• Apr 21, 2021Oil prices drop as India’s COVID-19 surge dents demand outlook | Reuters+0.7%
• Mar 25, 2021Oil prices drop 4% as new lockdowns undermine hopes for economic recovery-3.2%
• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+64.1%
• May 30, 2023Canadian dollar dips as oil prices fall more than 4%-0.4%