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Oil prices have stayed below expectations despite five months of US-Iran war, as China cut crude imports to a near-decade low and physical supply remained ample. Hormuz reopened in June, easing immediate fears.
Weak Chinese demand and ample cargoes cap crude upside, limiting near-term pressure on energy and freight costs for feed buyers.
reuters.comAnushree Ashish MukherjeeJul 20, 2026After 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.
