# U.S. crude oil falls more than 3% on inflation worries

> U.S. crude fell more than 3% on Dec 12 as traders worried the Federal Reserve had not yet brought inflation under control. January WTI traded at $68.91 and February Brent at $73.70 after U.S. inflation rose 0.1% in November. Investors also doubted OPEC+ supply cuts would offset expected non-OPEC output growth.

- Date: 2023-12-12 · published 2023-12-12T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/32888-u-s-crude-oil-falls-more-than-3-on-inflation-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude weighs on biofuel and fuel-linked feed costs, and rate expectations shift the dollar and commodity demand. The story signals a bearish energy backdrop for feed inputs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-10-14 | [Oil prices fall more than 3% on recession worries](https://feedsoft.ai/events/39282-oil-prices-fall-more-than-3-on-recession-worries.md) | -3.8% | -3.3% |
| WTI | 2023-03-14 | [Oil falls to three-month low on inflation worries, U.S. bank shutdowns](https://feedsoft.ai/events/37044-oil-falls-to-three-month-low-on-inflation-worries-u-s-bank-shutdowns.md) | -9.5% | +9.1% |
| WTI | 2020-10-29 | [Oil falls more than 3%, on track for worst week since April](https://feedsoft.ai/events/50799-oil-falls-more-than-3-on-track-for-worst-week-since-april.md) | +4.6% | +22.3% |
| WTI | 2020-03-18 | [Oil falls 24% in 3rd worst day on record, sinks to more than 18-year low](https://feedsoft.ai/events/7659-oil-falls-24-in-3rd-worst-day-on-record-sinks-to-more-than-18-year-low.md) | -18.5% | -26.1% |
| WTI | 2023-02-27 | [Oil futures slip 1% on worries about more U.S. interest rate hikes \| Reuters](https://feedsoft.ai/events/37486-oil-futures-slip-1-on-worries-about-more-u-s-interest-rate-hikes-reuters.md) | +4.5% | -9.2% |
| BRENT | 2022-10-14 | [Oil prices fall more than 3% on recession worries](https://feedsoft.ai/events/39282-oil-prices-fall-more-than-3-on-recession-worries.md) | -3.1% | -1.0% |
| BRENT | 2023-03-14 | [Oil falls to three-month low on inflation worries, U.S. bank shutdowns](https://feedsoft.ai/events/37044-oil-falls-to-three-month-low-on-inflation-worries-u-s-bank-shutdowns.md) | -8.9% | +7.8% |
| BRENT | 2020-10-29 | [Oil falls more than 3%, on track for worst week since April](https://feedsoft.ai/events/50799-oil-falls-more-than-3-on-track-for-worst-week-since-april.md) | +5.1% | +24.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/12/12/oil-steady-ahead-of-interest-rate-decisions-opec-supply-cut-doubts.html

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