# Oil falls as trade fears offset expectations for prolonged supply cuts

> US crude settled at $53.25, near a four-month low, as U.S.-China trade war fears and proposed Mexico tariffs weighed on demand. Saudi Arabia said OPEC and Russia would keep managing supply to avoid a surplus, and a possible Norwegian strike offered some support.

- Date: 2019-06-03 · published 2019-06-03T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11308-oil-falls-as-trade-fears-offset-expectations-for-prolonged-supply-cuts
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Demand concerns from tariffs are pressuring crude, while OPEC supply management limits downside. Energy price direction feeds into biofuel economics and soybean oil values.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-06-03 | 1 | -5.4% | -3.2 | Same-day report of oil falling to near four-month lows on trade war fears and Mexico tariffs weighing on demand, partly offset by supply-cut expectations. |
| BRENT | 2019-06-03 | 5 | -10.4% | -2.9 | On June 3 US crude settled near a four-month low as trade war fears and Mexico tariffs weighed on demand, outweighing supply-cut expectations. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-31 | [Oil Prices Slide on Trade Tensions and China Fears](https://feedsoft.ai/events/9884-oil-prices-slide-on-trade-tensions-and-china-fears.md) | -6.9% | +4.9% |
| WTI | 2019-05-29 | [Oil prices drop as trade war worries outweigh supply disruptions](https://feedsoft.ai/events/9886-oil-prices-drop-as-trade-war-worries-outweigh-supply-disruptions.md) | -9.3% | -2.2% |
| 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 | 2019-05-27 | [Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto](https://feedsoft.ai/events/59237-oil-under-pressure-from-u-s-china-trade-war-but-opec-cuts-provide-support-etauto.md) | -8.5% | -1.9% |
| 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% |
| BRENT | 2019-05-31 | [Oil Prices Slide on Trade Tensions and China Fears](https://feedsoft.ai/events/9884-oil-prices-slide-on-trade-tensions-and-china-fears.md) | -8.8% | -2.2% |
| BRENT | 2019-05-29 | [Oil prices drop as trade war worries outweigh supply disruptions](https://feedsoft.ai/events/9886-oil-prices-drop-as-trade-war-worries-outweigh-supply-disruptions.md) | -10.5% | -6.4% |
| BRENT | 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) | -4.6% | -9.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/06/03/oil-market-us-china-trade-war-us-crude-stockpiles-in-focus.html

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