
Brent fell $1.14 to $91.62 a barrel and WTI fell $1.04 to $85.49 on hopes of progress in Middle East and Russia-Ukraine peace talks. Gold extended losses after hot US inflation data and hawkish Fed comments reinforced expectations of a December rate hike.
The dollar held near a one-month high.
Lower crude prices ease energy-driven inflation, while rate-hike expectations and a stronger dollar pressure gold, so the moves reflect macro drivers rather than feed supply.
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.
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.
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.