# Brent Crude Price Tumbles Below $75 a Barrel, Erasing 2024 Gains - Bloomberg

> Brent crude dropped below $75 a barrel, erasing its 2024 gains and touching its lowest intraday price since December 2023. Concerns about demand in the world's two largest economies outweighed heightened geopolitical risks.

- Date: 2024-09-03 · published 2024-09-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11567-brent-crude-price-tumbles-below-75-a-barrel-erasing-2024-gains-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Falling crude prices reflect weaker expected global oil demand, which tends to reduce energy and transport costs across agricultural supply chains.

## Read by commodity

- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-09-02 | 1 | -4.7% | -5.1 | Brent fell below $75, erasing 2024 gains, on demand concerns in the two largest economies. |
| BRENT | 2024-09-03 | 1 | -4.1% | -3.2 | Brent breaking below $75 and erasing 2024 gains reflects demand concerns in the US and China, with technical selling on the same day. |
| BRENT | 2024-09-06 | 5 | -9.2% | -3.0 | Brent breaking below $75 erased 2024 gains, with demand concerns in the US and China outweighing geopolitical risk, reflecting sentiment and technical selling. |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-09-03/brent-crude-tumbles-below-75-a-barrel-erasing-2024-gains

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