# Oil prices fall 2% on economic worries, technical decline

> Oil prices fell about 2% on Tuesday as worries about slower US and Chinese economic growth reduced demand expectations after a sharp rally. Brent settled at $79.55 and WTI at $75.53.

- Date: 2024-08-27 · published 2024-08-27T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28957-oil-prices-fall-2-on-economic-worries-technical-decline
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker demand outlooks from the two largest energy consumers lower crude prices, reducing energy and biofuel-linked costs for feed markets.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-pause-after-surging-libyan-outages-middle-east-tensions-2024-08-27/

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