# Crude Oil Price Down More Than 10% This Week With Slowdown Hitting Demand - Bloomberg

> WTI settled near $89 a barrel, finishing the week almost 10% lower. US gasoline consumption fell, adding to demand concerns, and Libyan supplies recovered.

- Date: 2022-08-04 · published 2022-08-04T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12797-crude-oil-price-down-more-than-10-this-week-with-slowdown-hitting-demand
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker US fuel demand combined with returning Libyan barrels pushes crude lower, which feeds through to diesel and energy costs for feed logistics.

## Read by commodity

- WTI: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-08-04/oil-set-for-deep-weekly-loss-on-concern-global-demand-softening

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