# Oil dives 4.7% on fears of a global slowdown

> Oil prices fell more than 4% to a seven-month low after a surprise build in U.S. crude stockpiles. Brent dropped 4.4% to $56.35 a barrel and WTI settled down 4.7% at $51.09. Prices had already lost more than 20% since an April peak amid escalating U.S.-China trade tensions.

- Date: 2019-08-07 · published 2019-08-07T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12577-oil-dives-4-7-on-fears-of-a-global-slowdown
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Fears that the trade war will shrink global crude demand, combined with a larger-than-expected U.S. stock build, point to weaker crude prices. Lower crude generally reduces energy costs for feed production and transport but signals softer demand sentiment across commodities.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-08-07 | 5 | -14.1% | -3.3 | Brent dropped 4.4% to $56.35 on Aug 7 on the inventory build and global slowdown fears. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-04-04 | [Oil dives 7% to lowest in over 3 years on China's tariffs](https://feedsoft.ai/events/6315-oil-dives-7-to-lowest-in-over-3-years-on-china-s-tariffs.md) | -10.2% | -12.0% |
| 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 | 2018-11-23 | [A slippery trade: oil slump proves bears right](https://feedsoft.ai/events/10784-a-slippery-trade-oil-slump-proves-bears-right.md) | -5.6% | -16.1% |
| WTI | 2025-04-06 | [Oil prices slide 2% to near 4-year low as US trade conflict fuels recession fears \| Reuters](https://feedsoft.ai/events/6318-oil-prices-slide-2-to-near-4-year-low-as-us-trade-conflict-fuels-recession.md) | -0.8% | -6.8% |
| WTI | 2025-04-07 | [Oil drops to four-year low, metals fall on recession fears](https://feedsoft.ai/events/6319-oil-drops-to-four-year-low-metals-fall-on-recession-fears.md) | -0.8% | -6.8% |
| BRENT | 2025-04-04 | [Oil dives 7% to lowest in over 3 years on China's tariffs](https://feedsoft.ai/events/6315-oil-dives-7-to-lowest-in-over-3-years-on-china-s-tariffs.md) | -9.8% | -13.9% |
| 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 | 2018-11-23 | [A slippery trade: oil slump proves bears right](https://feedsoft.ai/events/10784-a-slippery-trade-oil-slump-proves-bears-right.md) | -5.4% | -14.0% |

## Sources

- cnbc.com: https://www.cnbc.com/amp/2019/08/07/oil-markets-us-china-trade-in-focus.html

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