# Oil falls as trade worries mount, Saudi comments limit losses

> Oil fell on Monday as U.S. trade disputes with Mexico and China raised concerns about weaker global crude demand, and an equity slump added pressure. Brent had dropped almost 20% from its 2018 peak despite output curbs by OPEC and Russia and reduced Iranian and Venezuelan exports.

- Date: 2019-06-03 · published 2019-06-03T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11307-oil-falls-as-trade-worries-mount-saudi-comments-limit-losses
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Trade-driven demand fears push crude lower, which tends to weaken energy-linked feedstock and biofuel costs. Lower energy prices also reduce the cost advantage of biofuels, pressuring soybean oil.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-06-03 | 1 | -5.4% | -3.2 | Directly describes the June 3 oil drop on U.S. trade disputes with Mexico and China raising demand concerns plus an equity slump. |
| BRENT | 2019-06-03 | 5 | -10.4% | -2.9 | On June 3 oil fell on US-Mexico and US-China trade disputes and an equity slump, which directly contributed to the end-of-window decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-31 | [Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months](https://feedsoft.ai/events/9883-oil-falls-over-3-on-fresh-trade-worries-posts-biggest-monthly-drop-in-six-months.md) | -6.9% | +4.9% |
| WTI | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -6.9% | +4.9% |
| WTI | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -2.2% | -1.1% |
| WTI | 2019-05-23 | [Oil gets clobbered as trade war fears mount \| CNN Business](https://feedsoft.ai/events/6606-oil-gets-clobbered-as-trade-war-fears-mount-cnn-business.md) | -4.2% | -12.5% |
| WTI | 2019-08-05 | [Oil resumes steep drop as U.S.-China trade row raises demand worries - MarketWatch](https://feedsoft.ai/events/12578-oil-resumes-steep-drop-as-u-s-china-trade-row-raises-demand-worries-marketwatch.md) | -2.2% | -1.1% |
| BRENT | 2019-05-31 | [Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months](https://feedsoft.ai/events/9883-oil-falls-over-3-on-fresh-trade-worries-posts-biggest-monthly-drop-in-six-months.md) | -8.8% | -2.2% |
| BRENT | 2019-05-31 | [Oil Market: US oil falls 5.5% to $53.50 per barrel on fresh trade worries](https://feedsoft.ai/events/9885-oil-market-us-oil-falls-5-5-to-53-50-per-barrel-on-fresh-trade-worries.md) | -8.8% | -2.2% |
| BRENT | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -5.8% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-prices-slide-as-trade-wars-roil-financial-markets-idUSKCN1T402N/

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