# Crude Crumbles Under Trade War That Imperils Economic Growth - Bloomberg

> Futures fell almost 7% in London on Wednesday as investors worried that US tariffs on Chinese goods would slow global growth and demand. The US was preparing tariffs on almost half of its imports from China.

- Date: 2018-07-11 · published 2018-07-11T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/10094-crude-crumbles-under-trade-war-that-imperils-economic-growth-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected tariffs on Chinese trade threaten global demand for energy and commodities, pushing crude lower. Weaker growth expectations also tend to weigh on agricultural export prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-07-11 | 1 | -5.1% | -3.5 | Escalating US-China tariff plans fueled fears of slower global growth and weaker oil demand, adding to the sell-off. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-08-01 | [Crude Ends Week Lower After Largest Dip in More Than Four Years - Bloomberg](https://feedsoft.ai/events/8493-crude-ends-week-lower-after-largest-dip-in-more-than-four-years-bloomberg.md) | -12.7% | -4.7% |
| WTI | 2019-05-24 | [Trade War Slams Crude Oil, Stocks and Bond Yields](https://feedsoft.ai/events/6609-trade-war-slams-crude-oil-stocks-and-bond-yields.md) | -2.1% | -1.6% |
| WTI | 2019-05-27 | [Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto](https://feedsoft.ai/events/59237-oil-under-pressure-from-u-s-china-trade-war-but-opec-cuts-provide-support-etauto.md) | -8.5% | -1.9% |
| WTI | 2019-08-01 | [Trump escalates trade war with more China tariffs](https://feedsoft.ai/events/8497-trump-escalates-trade-war-with-more-china-tariffs.md) | -12.7% | -4.7% |
| WTI | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | +0.9% | +9.0% |
| BRENT | 2019-08-01 | [Crude Ends Week Lower After Largest Dip in More Than Four Years - Bloomberg](https://feedsoft.ai/events/8493-crude-ends-week-lower-after-largest-dip-in-more-than-four-years-bloomberg.md) | -13.9% | -6.4% |
| BRENT | 2019-05-24 | [Trade War Slams Crude Oil, Stocks and Bond Yields](https://feedsoft.ai/events/6609-trade-war-slams-crude-oil-stocks-and-bond-yields.md) | -3.6% | -3.6% |
| BRENT | 2019-08-01 | [Trump escalates trade war with more China tariffs](https://feedsoft.ai/events/8497-trump-escalates-trade-war-with-more-china-tariffs.md) | -13.9% | -6.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-07-11/oil-steady-near-74-as-industry-data-shows-u-s-inventories-drop

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