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Crude oil benchmarks ended March with their biggest monthly and quarterly losses on record, each losing roughly two-thirds of its value in the quarter. The declines followed the coronavirus-driven economic freeze and a price war between Russia and Saudi Arabia.
Trump and Putin agreed to talks on stabilizing energy markets, which gave prices some support.
Collapsing fuel demand and a supply surge cut crude prices sharply, which lowers diesel and energy costs for feed producers and feed ingredients' freight and processing costs. The price pressure is expected to continue while demand stays depressed.
reuters.comDevika Krishna Kumar31 de mar. de 2020Após 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 312 eventos baixista de macro passados, Petróleo (Brent) subiu em mediana -1,7% em 5 sessões (38% de alta; metade central de -5,4% a +2,3%), e -1,7% 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.
Describes the March 31 close with record monthly/quarterly losses driven by demand collapse and the Saudi-Russia price war, matching the day's selloff context.
Record monthly and quarterly losses on Mar 31 reflect demand freeze and price war; Trump-Putin talks gave only limited support.
