
Oil prices fell to their lowest since 2002 as coronavirus measures cut demand for transport fuel. Brent dropped to $22.58 and WTI fell below $20 during the session.
Prices had more than halved over the previous month as companies cut back or closed production, and a Saudi-Russia price war added to the pressure.
Grounded airlines and reduced road traffic drove a sharp fall in fuel demand, which pushes crude and energy costs lower. Lower energy costs ease input and freight costs for feed producers, but the demand shock signals weaker economic activity.
Setelah 565 peristiwa makro bearish sebelumnya, Minyak Mentah (WTI) bergerak median -1,4% selama 5 sesi (41% lebih tinggi; separuh tengah -5,9% sampai +3,0%), dan -0,5% selama 20 sesi.
Setelah 312 peristiwa makro bearish sebelumnya, Minyak Mentah (Brent) bergerak median -1,7% selama 5 sesi (38% lebih tinggi; separuh tengah -5,4% sampai +2,3%), dan -1,7% 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.
Brent fell to about $22.58, the lowest since 2002, on lockdown-driven transport fuel demand loss and price war supply pressure.