# Oil prices hold at 14-month low as demand worries offset big US storage withdrawal

> Oil prices held at a 14-month low on Thursday. Concerns about demand in the US and China and an expected rise in Libyan supply outweighed a large draw in US crude inventories and a delay to OPEC+ output increases.

- Date: 2024-09-05 · published 2024-09-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11566-oil-prices-hold-at-14-month-low-as-demand-worries-offset-big-us-storage
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Persistent demand worries and expected supply growth keep crude depressed, which tends to ease diesel and freight costs for feed buyers.

## 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 | Brent stayed at a 14-month low as demand worries in the US and China and Libyan supply outweighed a US inventory draw. |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-steady-investors-weigh-weak-demand-potential-delay-opec-output-hike-2024-09-05/

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