# What happened to oil? Why crude prices plummeted 25% in 5 weeks | Financial Post

> Crude prices fell about 25 percent over five weeks in late 2018 after climbing through September and early October. The article cites the interplay of supply and demand, market sentiment, and the U.S. decision to grant Iran sanctions waivers to eight countries.

- Date: 2018-11-15 · published 2018-11-15T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10783-what-happened-to-oil-why-crude-prices-plummeted-25-in-5-weeks-financial-post
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sharp crude declines reduce the cost-based support for biofuel-linked crops and vegetable oils, which can soften soybean oil and corn values. Lower diesel costs also ease freight and farm input expenses for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-28 | [Colombian peso hits lowest in a month on weak oil price \| Financial Post](https://feedsoft.ai/events/52400-colombian-peso-hits-lowest-in-a-month-on-weak-oil-price-financial-post.md) | -1.5% | +2.4% |
| WTI | 2022-11-18 | [Canadian dollar extends weekly decline as oil prices slide \| Financial Post](https://feedsoft.ai/events/38908-canadian-dollar-extends-weekly-decline-as-oil-prices-slide-financial-post.md) | -6.5% | -9.1% |
| WTI | 2021-10-21 | [Canadian dollar falls by most in three weeks as oil stumbles \| Financial Post](https://feedsoft.ai/events/44823-canadian-dollar-falls-by-most-in-three-weeks-as-oil-stumbles-financial-post.md) | -1.9% | -7.0% |
| WTI | 2022-03-25 | [Thai baht, Asian FX gain as oil prices come off the boil \| Financial Post](https://feedsoft.ai/events/42509-thai-baht-asian-fx-gain-as-oil-prices-come-off-the-boil-financial-post.md) | -11.6% | -9.7% |
| WTI | 2020-04-23 | [Ringgit at risk from weak crude oil prices](https://feedsoft.ai/events/53931-ringgit-at-risk-from-weak-crude-oil-prices.md) | +9.9% | +145.0% |
| BRENT | 2020-07-28 | [Colombian peso hits lowest in a month on weak oil price \| Financial Post](https://feedsoft.ai/events/52400-colombian-peso-hits-lowest-in-a-month-on-weak-oil-price-financial-post.md) | +1.3% | +3.2% |
| BRENT | 2023-07-04 | [Why are OPEC+ supply cuts failing to boost oil prices?](https://feedsoft.ai/events/34941-why-are-opec-supply-cuts-failing-to-boost-oil-prices.md) | +4.3% | +14.5% |
| BRENT | 2022-12-08 | [Explainer: What happened to the 2022 global oil rally? \| Reuters](https://feedsoft.ai/events/38396-explainer-what-happened-to-the-2022-global-oil-rally-reuters.md) | +7.6% | +0.4% |

## Sources

- financialpost.com: https://financialpost.com/investing/investing-pro/oil-price-plummet-brought-on-by-myriad-factors-joe-chidley

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