# Supermarkets cut fuel prices for second time this week after oil dips below $50 | Money News | Sky News

> UK supermarkets Morrisons, Sainsbury's and Asda cut diesel and petrol prices after Brent crude fell below $50 a barrel and hit five-month lows near $47 in early trading. The decline followed weak Chinese economic data and higher-than-expected US crude inventories. Oil markets remain concerned about how long it will take to cut the global supply glut.

- Date: 2017-05-05 · published 2017-05-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10014-supermarkets-cut-fuel-prices-for-second-time-this-week-after-oil-dips-below-50
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker Brent prices and softer Chinese demand signals point to lower energy costs and reduced crude-linked input prices. Lower oil also weakens biofuel economics, which can slightly reduce demand support for vegetable oils and corn.

## Read by commodity

- BRENT: bearish ▼

## Sources

- news.sky.com: https://news.sky.com/story/oil-price-fall-deepens-on-renewed-over-supply-fears-10863569

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.