WTI rebounds above $85.50 despite easing Middle East tensions

After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

• Mar 9, 2017WTI oil prices fall below $50 for first time since December-2.9%
• May 21, 2019Oil Dragged Down by Swelling U.S. Stockpiles and Trade Tensions - Bloomberg-7.3%
• Aug 31, 2018OPEC August oil output hits 2018 high despite Iran losses: Reuters survey | Reuters-3.6%
• Apr 13, 2020COVID-19 Weakens Ethanol Demand Leading to Reduction in Corn Usage Forecast - Purdue Agricultural Economics-19.9%
• May 18, 2017CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension+4.2%

After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

• Mar 9, 2017WTI oil prices fall below $50 for first time since December-3.7%
• May 21, 2019Oil Dragged Down by Swelling U.S. Stockpiles and Trade Tensions - Bloomberg-3.4%
• Aug 31, 2018OPEC August oil output hits 2018 high despite Iran losses: Reuters survey | Reuters-1.7%
• May 18, 2017CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension+3.2%
• Aug 13, 2018OPEC’s Output Rose in July Despite Decline in Saudi Oil Production - WSJ-1.3%