# Oil slumps 7 percent as equities slide fuels demand worries

> WTI fell about 7% to $53.30 on Nov 20, 2018, its lowest in more than a year, and Brent dropped to $62.29. The decline followed a Wall Street sell-off driven by slowing growth fears and weak retail and tech results. Volumes in WTI futures were well above the 10-month daily average.

- Date: 2018-11-20 · published 2018-11-20T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10585-oil-slumps-7-percent-as-equities-slide-fuels-demand-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of weaker global growth reduce projected oil demand and push crude lower. Lower energy prices also weigh on biofuel margins that support grain and oilseed demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-20 | 1 | -5.3% | -3.4 | Same-day report of the ~7% oil drop with Brent falling to $62.29 as Wall Street weakness fueled demand worries. |
| BRENT | 2018-11-23 | 5 | -11.6% | -3.3 | Oil slumped ~7% on Nov 20 as equity sell-off raised demand worries (sentiment/demand). |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/oil-slumps-7-percent-as-equities-slide-fuels-demand-worries-118112100011_1.html

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