# Crude Prices Weighed Down by Energy Demand Concerns

> WTI and RBOB gasoline fell on concerns that interest rates will stay high, weak US data including rising jobless claims, a sharp drop in pending home sales and a downward revision to Q1 GDP. Crude also faced a three-and-a-quarter-month low in the crack spread, while Middle East conflict offered some support.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30418-crude-prices-weighed-down-by-energy-demand-concerns
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Weak US growth data and a weaker crack spread reduce refiner crude demand and signal softer energy consumption, which tends to pressure diesel and fuel costs for feed logistics.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-07-30 | [Crude Prices Retreat on the Prospects of Weaker Chinese Energy Demand](https://feedsoft.ai/events/29445-crude-prices-retreat-on-the-prospects-of-weaker-chinese-energy-demand.md) | -3.7% | +1.7% |
| WTI | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -4.0% | +0.9% |
| WTI | 2021-08-31 | [Oil Prices Tumble On Demand Concerns Ahead Of OPEC+ Meeting](https://feedsoft.ai/events/45724-oil-prices-tumble-on-demand-concerns-ahead-of-opec-meeting.md) | -1.2% | +8.9% |
| WTI | 2018-12-20 | [Oil demand flashes red, sending crude prices even lower](https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower.md) | -6.7% | +12.5% |
| WTI | 2026-08-28 | [Dollar Strength and Increased Middle East Oil Flows Weigh on Crude Prices](https://feedsoft.ai/events/18056-dollar-strength-and-increased-middle-east-oil-flows-weigh-on-crude-prices.md) | +9.2% | +13.1% |
| DIESEL | 2025-02-01 | [Oil prices settle pennies higher, down for week as Trump touts energy policy](https://feedsoft.ai/events/26664-oil-prices-settle-pennies-higher-down-for-week-as-trump-touts-energy-policy.md) | -0.2% | -9.1% |
| DIESEL | 2023-04-17 | [Drop in Diesel Demand Heightens Recession Concerns - TT](https://feedsoft.ai/events/36589-drop-in-diesel-demand-heightens-recession-concerns-tt.md) | -6.1% | -13.1% |
| DIESEL | 2022-03-28 | [Up and down: DOE/EIA price way up, diesel futures plummet - FreightWaves](https://feedsoft.ai/events/9138-up-and-down-doe-eia-price-way-up-diesel-futures-plummet-freightwaves.md) | -18.2% | +0.1% |

## Sources

- barchart.com: https://www.barchart.com/story/news/26536531/crude-prices-weighed-down-by-energy-demand-concerns

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