# Oil drops on China uncertainty; U.S. demand limits decline | Reuters

> Oil fell for a second straight session on concerns about China's demand outlook and limited U.S. demand. Brent for February delivery settled at $82.26 and WTI at $78.40.

- Date: 2022-12-29 · published 2022-12-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/38395-oil-drops-on-china-uncertainty-u-s-demand-limits-decline-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker crude reduces energy costs for biofuel production and lowers the value of vegetable oils used in biodiesel, pressuring soyoil and palm oil prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-ease-china-covid-spike-hurts-demand-outlook-2022-12-29/

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