# Oil prices end week at multi-month lows on recession fears

> Oil ended the week at multi-month lows on recession worries after the Bank of England warned of a drawn-out downturn. On Friday Brent and WTI edged up slightly as tight supply offset expected fuel demand declines.

- Date: 2022-08-05 · published 2022-08-05T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12798-oil-prices-end-week-at-multi-month-lows-on-recession-fears
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Recession risk is the main downward force on crude, while supply tightness limits losses and keeps energy costs elevated for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-08-05 | 5 | -11.9% | -2.8 | The weekly wrap confirms multi-month lows driven by recession and demand worries, though the slight Friday uptick on tight supply means it adds little new price pressure beyond the earlier drops. |

## Sources

- cnbc.com: https://www.cnbc.com/2022/08/05/oil-markets-recession-unemployment-inflation-demand.html

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