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WTI traded near $57.65 on August 1, down 93 cents, after Fed Chairman Powell signaled that further rate cuts were not assured following the 25-basis-point cut. Equities fell sharply.
An 8.5 million barrel EIA crude stock draw helped limit losses, and a Libyan Sharara field shutdown of about 300,000 bbl/day was seen as likely temporary.
Reduced expectations for monetary easing weaken commodity demand sentiment and the dollar outlook, pressuring crude and fuel prices that feed into feed freight and processing costs.
mansfield.energyAlan Apthorp1 de ago. de 2019Após 565 eventos baixista de macro passados, Petróleo (WTI) subiu em mediana -1,4% em 5 sessões (41% de alta; metade central de -5,9% a +3,0%), e -0,5% em 20.
Após 79 eventos baixista de macro passados, ULSD / Diesel subiu em mediana -1,0% em 5 sessões (39% de alta; metade central de -5,7% a +1,7%), e -1,5% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Powell's signal that further cuts were not assured on Aug 1 hit equities and crude, adding to the downward pressure on energy prices, partly offset by an inventory draw.
