# Oil slumps 17% in Q3 as Middle East conflict offset by slowing demand - The Business Times

> Oil was little changed on Sept. 30 but posted a 17% loss for the third quarter, its biggest quarterly drop in a year. Brent for November delivery settled at $71.77 and WTI at $68.17. Demand concerns outweighed fears that Middle East conflict could curtail supply.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28487-oil-slumps-17-in-q3-as-middle-east-conflict-offset-by-slowing-demand-the
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sharp quarterly declines reduce energy input costs and soften biofuel feedstock values, though Middle East risk keeps some support under prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-slumps-17-q3-middle-east-conflict-offset-slowing-demand

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