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Oil prices and energy shares jumped after OPEC's deal to cut output. US crude gained about 9 percent to $50.00 a barrel, its first time at that level since late October, and Brent touched a six-week high of $52.35.
The output deal drove a sharp crude rally, and the resulting higher energy costs raise input and freight prices for feed buyers.
reuters.comDec 1, 2016After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% 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.
