OIL FUTURES: WTI tests $20/b as pandemic-weakened demand outlooks dim

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.

• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+64.1%
• Oct 15, 2024Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens-5.8%
• Oct 1, 2020Oil dips nearly 4% on weak demand outlook and higher OPEC output-0.6%
• Mar 26, 2020Oil sheds more than $1 as weakening demand outweighs stimulus hopes-7.5%
• Sep 10, 2024Oil settles near 3-year low on weak demand outlook | Reuters+2.1%

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.

• Mar 30, 2020Crude oil futures drop as pandemic darkens demand outlook+21.9%
• Oct 15, 2024Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens-5.4%
• Oct 1, 2020Oil dips nearly 4% on weak demand outlook and higher OPEC output+1.7%
• Mar 26, 2020Oil sheds more than $1 as weakening demand outweighs stimulus hopes-27.4%
• Sep 10, 2024Oil settles near 3-year low on weak demand outlook | Reuters+1.7%