# Oil falls for second week as supply concerns ease

> US crude rose 1% to settle at $71.01 on Friday but still posted its second straight weekly loss. Brent gained about 1.5% but was heading for a weekly drop of 2%. Strikes on Norwegian rigs and Iraqi port protests disrupted supply, while Libyan ports reopened.

- Date: 2018-07-13 · published 2018-07-13T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10098-oil-falls-for-second-week-as-supply-concerns-ease
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply disruptions in Norway and Iraq offset the return of Libyan barrels, leaving crude prices roughly balanced. Feed buyers should see little direct energy-driven cost change from this week's moves.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.2% | -5.0% |
| WTI | 2026-07-31 | [WTI Oil rises as geopolitical risks keep supply concerns alive](https://feedsoft.ai/events/18520-wti-oil-rises-as-geopolitical-risks-keep-supply-concerns-alive.md) | -7.4% | -0.3% |
| WTI | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -22.0% | -17.5% |
| WTI | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.1% | +2.3% |
| WTI | 2025-12-03 | [Vegetable oil prices rose slightly after falling in the previous week](https://feedsoft.ai/events/11261-vegetable-oil-prices-rose-slightly-after-falling-in-the-previous-week.md) | -0.7% | -2.5% |
| BRENT | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.4% | -2.7% |
| BRENT | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -21.5% | -18.3% |
| BRENT | 2024-10-30 | [What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics](https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics.md) | +7.2% | +3.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/07/13/oil-set-for-big-weekly-decline.html

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