# Oil's losing streak hits six days, benchmarks touch May lows | Reuters

> Oil extended its losing streak to six days and benchmarks touched May lows. Crude has fallen about 15% since early July as new coronavirus infections have reduced travel and raised concern about economic activity.

- Date: 2021-08-19 · published 2021-08-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11409-oil-s-losing-streak-hits-six-days-benchmarks-touch-may-lows-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker demand expectations from virus-related mobility limits push crude and fuel prices lower. Lower energy costs ease input expenses for feed producers, though the decline mainly reflects demand concerns.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-08-23 | 1 | +5.5% | 3.0 | The preceding six-day losing streak to May lows left oil oversold, which set up the sharp rebound on Aug 23. |

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/oil-extends-losses-pandemic-fears-rise-us-gasoline-stockpiles-2021-08-19/

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