# Crude prices fall amid high inventories and concerns over China | The National

> Brent crude fell below $50 on Thursday for the first time since March before closing at $49.10 on Friday, and WTI hit a low of $45.29 before settling at $46.22. Analysts pointed to Chinese growth worries, high inventories and fund positioning, while Saudi Arabia said Russia was ready to join OPEC in extending cuts.

- Date: 2017-05-06 · published 2017-05-06T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/11195-crude-prices-fall-amid-high-inventories-and-concerns-over-china-the-national
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Chinese liquidity tightening and concerns about its manufacturing weigh on demand for commodities, while expected OPEC and Russian cut extensions offer some support to crude prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-07-20 | [Oil extends decline as concerns over Covid-19 variant mount  \| The National](https://feedsoft.ai/events/6366-oil-extends-decline-as-concerns-over-covid-19-variant-mount-the-national.md) | +8.2% | +1.2% |
| BRENT | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -3.0% | +0.7% |
| BRENT | 2022-04-25 | [Oil Price: Crude Down on China COVID Lockdowns and Fed Rate Outlook - Markets Insider](https://feedsoft.ai/events/42016-oil-price-crude-down-on-china-covid-lockdowns-and-fed-rate-outlook-markets.md) | +2.8% | +6.8% |
| BRENT | 2021-07-21 | [RBI Intervention And Sharply Lower Oil Prices Halted The Rapid Rise In USD/INR \| Investing.com India](https://feedsoft.ai/events/46346-rbi-intervention-and-sharply-lower-oil-prices-halted-the-rapid-rise-in-usd-inr.md) | +7.2% | -0.7% |
| BRENT | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -18.6% | -21.4% |
| WTI | 2021-07-20 | [Oil extends decline as concerns over Covid-19 variant mount  \| The National](https://feedsoft.ai/events/6366-oil-extends-decline-as-concerns-over-covid-19-variant-mount-the-national.md) | +8.5% | +1.4% |
| WTI | 2024-05-30 | [Crude Prices Weighed Down by Energy Demand Concerns](https://feedsoft.ai/events/30418-crude-prices-weighed-down-by-energy-demand-concerns.md) | -6.5% | +3.4% |
| WTI | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -4.0% | +0.9% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/crude-prices-fall-amid-high-inventories-and-concerns-over-china-1.59356

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