
Oil prices fell more than 10% as a new coronavirus strain raised fears of renewed lockdowns and a slower demand recovery. WTI dropped below $70 a barrel and Brent slid below $75.
The sell-off came days after a coordinated release of strategic crude stocks by major consumers.
Concern that lockdowns will slow fuel demand, alongside OPEC+ deciding whether to add supply, points to lower crude prices.
Setelah 32 peristiwa penyakit bearish sebelumnya, Minyak Mentah (WTI) bergerak median -5,2% selama 5 sesi (13% lebih tinggi; separuh tengah -15,0% sampai -2,4%), dan -5,7% selama 20 sesi.
Setelah 26 peristiwa penyakit bearish sebelumnya, Minyak Mentah (Brent) bergerak median -6,0% selama 5 sesi (15% lebih tinggi; separuh tengah -13,3% sampai -2,0%), dan -6,8% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Attributes the over-10% drop to fears of renewed lockdowns and a slower demand recovery, with the earlier reserve release adding to the bearish backdrop.
Fears of renewed lockdowns and slower demand recovery sent Brent below $75, coinciding with the strategic reserve releases adding supply.
Fears of renewed lockdowns and slower demand recovery, on top of reserve releases, drove the crash.