Why Brent Crude Oil Futures moves
Brent Crude Oil Futures barely moved.
Written after the close on ·
Why today
16,210 news analyzed todayBrent Crude Oil Futures barely moved.
The S&P 500 rose slightly, so Brent moved less than the market.
Over the last five trading days, Brent fell sharply, a big move for it.
Most of the recent drop likely reflects peace hopes after the US midterm election, which eased fears of supply disruption from the Middle East.
Tanker attacks and standoffs in the region have also kept prices volatile.
Today's move of −0.54% was 0.4 times a normal day's 1.3%. S&P 500 moved +0.31% on the same day.
Brent Crude Oil Futures −0.54%S&P 500 +0.31%Against the market
What followed similar falls?
Including reinvested dividends, Brent Crude Oil Futures fell 11.9% over the latest five trading days. Since November 7, 2016, falls at least this large were followed by a higher value 21 trading days later in 10 out of 17 non-overlapping periods. The median was +5.2%, against +1.3% for an ordinary 21-day period, which ended higher 56 times in 100.
Such a fall has not said much about the next month.
+5.2% · 10/17
$10,000 in Brent Crude Oil Futures bought on November 7, 2016 is worth $21,300 today, with dividends reinvested.
The same amount in S&P 500 with dividends would have become $40,400.
What would $10,000 in Brent Crude Oil Futures be worth today? →
What would $10,000 in Brent Crude Oil Futures be worth today?
$21,300
with dividends reinvested, bought on November 7, 2016. The same amount in S&P 500 with dividends would have become $40,400.
At worst it was worth $4,190 (April 21, 2020).
The five biggest days of the journey
· −24.4% · the whole market fell 3.1% the same day
· −24.1% · the whole market fell 7.6% the same day
· +21.0% · the whole market rose 2.3% the same day
· +14.6% · the whole market fell 0.3% the same day
· −14.5% · the whole market rose 0.7% the same day
Earlier days
−12.39% market −2.70% Brent Crude Oil Futures, a benchmark oil contract traded on NYMEX, fell sharply over the week, a big move for it. Read →
Brent Crude Oil Futures, a benchmark oil contract traded on NYMEX, fell sharply over the week, a big move for it.
The fall came mainly as US election results raised hopes of an Iran peace deal, easing fears of supply disruption.
That drop was bigger than the S&P 500's, which also fell sharply but less.
Trading on the latest session was roughly flat, a normal-sized move.
+5.95% market −4.41% Brent Crude Oil Futures rose on tanker attack supply fears. Read →
Brent Crude Oil Futures rose on tanker attack supply fears.
The S&P 500 fell very sharply over the same days, so oil moved against the market.
Tanker attacks pushed Brent up over $3 in the last session, a concrete supply shock.
The rise came after a steep fall over the past five trading days, which was very big for this contract.
Trading volume was well below its usual level, so the rebound was thin.