# Crude futures settle down by more than $1/bbl on demand fears

> Crude futures settled down by more than $1 a barrel as both benchmarks swung sharply during the session. OPEC+ was reportedly discussing a delay to a planned output increase because Libyan production is expected to rise, while weak US and Chinese data reinforced demand concerns.

- Date: 2024-09-04 · published 2024-09-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11565-crude-futures-settle-down-by-more-than-1-bbl-on-demand-fears
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker expected oil demand and a possible OPEC+ supply delay together signal a softer energy complex, lowering input-cost pressure for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-09-06 | 5 | -9.2% | -3.0 | Further settlement declines on weak US and Chinese data and expected Libyan supply increases reinforced demand concerns. |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-extends-losses-signs-end-libyan-dispute-demand-concerns-2024-09-04/

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