# Oil gains nearly 2%, but posts worst month and quarter on record

> Oil rose about 2% on Tuesday after Trump and Putin agreed to talks on stabilizing energy markets, with benchmarks rebounding from 18-year lows. WTI still posted its worst month and quarter on record, while Brent was roughly flat and physical cargoes sold at deep discounts in some regions.

- Date: 2020-03-31 · published 2020-03-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9203-oil-gains-nearly-2-but-posts-worst-month-and-quarter-on-record
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Prospects of coordinated producer action support crude prices after a steep sell-off. Lower crude keeps diesel and freight costs low, but the gap between physical and futures prices signals continued weakness in energy-linked demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-01 | [Front-month Brent oil futures extend gains after record monthly rise in March](https://feedsoft.ai/events/20346-front-month-brent-oil-futures-extend-gains-after-record-monthly-rise-in-march.md) | -6.6% | +6.7% |
| WTI | 2019-09-16 | [Oil jumps nearly 15% in record trading after attack on Saudi facilities](https://feedsoft.ai/events/5704-oil-jumps-nearly-15-in-record-trading-after-attack-on-saudi-facilities.md) | +5.8% | -0.1% |
| WTI | 2024-07-31 | [Oil gains nearly 3% on rising Mideast tension, falling US crude stockpiles \| Reuters](https://feedsoft.ai/events/29439-oil-gains-nearly-3-on-rising-mideast-tension-falling-us-crude-stockpiles-reuters.md) | -2.1% | +0.6% |
| WTI | 2022-01-31 | [Supply, geopolitics put oil on track - Markets - Business Recorder](https://feedsoft.ai/events/43296-supply-geopolitics-put-oil-on-track-markets-business-recorder.md) | +5.6% | +9.8% |
| WTI | 2023-10-13 | [Oil surges nearly 6% after Israel begins ground raids into Gaza \| Reuters](https://feedsoft.ai/events/9276-oil-surges-nearly-6-after-israel-begins-ground-raids-into-gaza-reuters.md) | +7.8% | -8.1% |
| BRENT | 2025-11-30 | [OPEC+ ministers reaffirm earlier decisions on oil production in 2026 -  Business & Economy - TASS](https://feedsoft.ai/events/21873-opec-ministers-reaffirm-earlier-decisions-on-oil-production-in-2026-business.md) | +0.7% | -1.8% |
| BRENT | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.2% | +3.6% |
| BRENT | 2019-09-16 | [OPEC says too early for any action on oil after Saudi attacks](https://feedsoft.ai/events/57001-opec-says-too-early-for-any-action-on-oil-after-saudi-attacks.md) | +6.6% | -0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/03/31/oil-markets-us-russia-oil-market-talks-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.