
Oil prices plunged more than 6 percent to their lowest level in over a year as fears of an economic slowdown rattled markets. U.S. crude and Brent both hit their lowest levels since 2017 during the session and were on track for losses of about 40 percent in the fourth quarter.
Expectations of weaker global growth reduce expected crude demand, which pressures energy prices. Lower crude also weakens the economics of biofuels that feed into corn and soybean oil demand.
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.
Dec 24 plunge of over 6% on economic slowdown fears directly drove the final leg of the 5-day decline.