# Oil extends losses in post-settlement trade on oversupply worries

> Oil prices plunged about 6% on Tuesday and fell further in post-settlement trade. The declines followed concerns over new pandemic curbs, slow vaccine rollouts in Europe, and oversupply worries.

- Date: 2021-03-23 · published 2021-03-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10317-oil-extends-losses-in-post-settlement-trade-on-oversupply-worries
- 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 from European lockdowns lowers crude prices, which can ease energy and freight costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-falls-more-than-3-as-european-coronavirus-curbs-point-to-demand-hit-idUSKBN2BF062/?il=0

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