# Oil slips as strong dollar, China worries offset supply outlook

> Oil slipped on Friday and was set for a second straight weekly loss, with Brent down 83 cents to $84.28 and WTI down 63 cents to $82.19. The decline was attributed to a strong dollar and worries about Chinese demand, which offset supply considerations.

- Date: 2024-07-19 · published 2024-07-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/29474-oil-slips-as-strong-dollar-china-worries-offset-supply-outlook
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and softer Chinese demand weigh on crude, which can lower energy and freight costs for feed buyers. The price move reflects routine market pressure rather than a new supply event.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-drops-weak-sentiment-set-weekly-decline-2024-07-19/

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