# Oil Prices for Sep. 04, 2020: Brent Crude, WTI - Bloomberg

> Oil futures in New York closed below $40 a barrel for the first time in a month as broader equity weakness and demand concerns weighed on prices. US crude fell nearly 4% and posted its worst week since June. Labor Day is seen as the informal end of summer driving season.

- Date: 2020-09-03 · published 2020-09-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10226-oil-prices-for-sep-04-2020-brent-crude-wti-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker expected fuel demand and seasonal refinery maintenance point to softer crude demand, which tends to pressure energy-linked and biofuel-related prices lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-09-03/oil-extends-biggest-weekly-drop-since-june-as-demand-woes-return

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