# Oil settles lower in light trading on China demand concerns

> Oil settled lower on Wednesday as traders weighed concerns over a surge in COVID cases and weak China demand. Brent settled at $83.26 and WTI at $78.96.

- Date: 2022-12-28 · published 2022-12-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/38397-oil-settles-lower-in-light-trading-on-china-demand-concerns
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Softer crude weakens the energy link for biofuel feedstocks and vegetable oils, adding modest downward pressure on soyoil and palm oil.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-hopes-china-demand-boost-2022-12-28/

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