# Oil falling deeper into 'bear territory' amid waning demand, analysts say - News for the Energy Sector

> Brent fell about 4% on Nov 20, 2018, to below $63, its lowest level in more than a year, after clearing $85 in early October. The White House issued waivers to eight of Iran's biggest customers, which returned much of the earlier gains. Analysts cited weakening demand and rising output from Saudi Arabia, Russia and the US.

- Date: 2018-11-21 · published 2018-11-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10588-oil-falling-deeper-into-bear-territory-amid-waning-demand-analysts-say-news-for
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Concerns about supply outpacing weaker demand keep crude under pressure, and the Iran waivers removed the supply cut that had supported prices. Lower oil prices reduce the cost of biofuel feedstocks.

## 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 | Describes Brent falling about 4% on Nov 20 on weakening demand and rising Saudi, Russian and US output, with Iran waivers adding supply. |
| BRENT | 2018-11-23 | 5 | -11.6% | -3.3 | Brent fell below $63 on weakening demand and rising Saudi, Russian and US output, with Iran waivers reducing supply tightness. |

## Sources

- energyvoice.com: https://www.energyvoice.com/markets/186581/oil-falling-deeper-into-bear-territory-amid-waning-demand-analysts-say/

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