# Oil falls to three-month low on inflation worries, U.S. bank shutdowns

> Oil fell to a three-month low on March 14 as inflation worries and US bank shutdowns raised fears of a financial crisis that could reduce oil demand. Brent futures dropped by more than $3.

- Date: 2023-03-14 · published 2023-03-14T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37044-oil-falls-to-three-month-low-on-inflation-worries-u-s-bank-shutdowns
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Fears of weaker demand from a banking crisis and higher rates pressure energy prices lower, which can ease diesel and fertilizer costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-12-12 | [U.S. crude oil falls more than 3% on inflation worries](https://feedsoft.ai/events/32888-u-s-crude-oil-falls-more-than-3-on-inflation-worries.md) | +3.3% | +2.3% |
| BRENT | 2021-12-01 | [Omicron pushes oil prices to three-month lows \| OilNOW](https://feedsoft.ai/events/7523-omicron-pushes-oil-prices-to-three-month-lows-oilnow.md) | +6.8% | +9.0% |
| BRENT | 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) | -9.0% | -17.4% |
| 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 | 2025-10-01 | [Oil slumps to 16-week low on U.S. shutdown and possible OPEC+ plans](https://feedsoft.ai/events/23037-oil-slumps-to-16-week-low-on-u-s-shutdown-and-possible-opec-plans.md) | -2.2% | -5.2% |
| WTI | 2023-12-12 | [U.S. crude oil falls more than 3% on inflation worries](https://feedsoft.ai/events/32888-u-s-crude-oil-falls-more-than-3-on-inflation-worries.md) | +1.7% | +0.6% |
| WTI | 2023-07-18 | [Canada's inflation falls to 27-month low but underlying pressures persist \| Reuters](https://feedsoft.ai/events/35278-canada-s-inflation-falls-to-27-month-low-but-underlying-pressures-persist.md) | +6.2% | +11.2% |
| WTI | 2021-12-01 | [Omicron pushes oil prices to three-month lows \| OilNOW](https://feedsoft.ai/events/7523-omicron-pushes-oil-prices-to-three-month-lows-oilnow.md) | +8.8% | +15.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-edge-lower-svb-collapse-spooks-financial-markets-2023-03-14/

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