# Anti-Xi-Jinping Protests Drag Down Oil, WTI Futures Fall To Lowest Level In Nearly A Year - United States - Benzinga

> WTI fell to an 11-month low of $73.82 and Brent dipped to $81.16 as protests spread across China against zero-COVID restrictions. Traders were also weighing a US move to license Chevron to resume oil production in Venezuela. Sentiment in the oil market was described as negative.

- Date: 2022-11-28 · published 2022-11-28T12:00:00.000Z
- Category: geopolitics · region China · magnitude medium
- Page: https://feedsoft.ai/events/38853-anti-xi-jinping-protests-drag-down-oil-wti-futures-fall-to-lowest-level-in
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker Chinese demand prospects lower energy and diesel costs for feed buyers, but unrest in China adds uncertainty to demand for feed and meat.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-02-26 | [Despite progress in trade talks between the U.S. and China, oil futures gave up early gains](https://feedsoft.ai/events/60761-despite-progress-in-trade-talks-between-the-u-s-and-china-oil-futures-gave-up.md) | +1.0% | +4.5% |
| BRENT | 2020-01-07 | [Oil sinks nearly 5%, under $60 after Trump says Iran is standing down](https://feedsoft.ai/events/9658-oil-sinks-nearly-5-under-60-after-trump-says-iran-is-standing-down.md) | -7.8% | -22.1% |
| BRENT | 2026-02-02 | [Oil prices fall nearly 5%, below $62/bbl on US‑Iran de‑escalation - The Economic Times](https://feedsoft.ai/events/8801-oil-prices-fall-nearly-5-below-62-bbl-on-us-iran-de-escalation-the-economic.md) | -3.1% | +0.6% |
| BRENT | 2019-09-17 | [Oil ends sharply lower as Saudis project early return to normal for damaged facilities](https://feedsoft.ai/events/57240-oil-ends-sharply-lower-as-saudis-project-early-return-to-normal-for-damaged.md) | -5.8% | -14.0% |
| BRENT | 2024-04-18 | [Crude oil prices today: WTI falls below $83 as war fear eases](https://feedsoft.ai/events/30929-crude-oil-prices-today-wti-falls-below-83-as-war-fear-eases.md) | +0.1% | -8.0% |
| WTI | 2019-02-26 | [Despite progress in trade talks between the U.S. and China, oil futures gave up early gains](https://feedsoft.ai/events/60761-despite-progress-in-trade-talks-between-the-u-s-and-china-oil-futures-gave-up.md) | +2.2% | +6.1% |
| WTI | 2020-01-07 | [Oil sinks nearly 5%, under $60 after Trump says Iran is standing down](https://feedsoft.ai/events/9658-oil-sinks-nearly-5-under-60-after-trump-says-iran-is-standing-down.md) | -8.1% | -21.6% |
| WTI | 2026-02-02 | [Oil prices fall nearly 5%, below $62/bbl on US‑Iran de‑escalation - The Economic Times](https://feedsoft.ai/events/8801-oil-prices-fall-nearly-5-below-62-bbl-on-us-iran-de-escalation-the-economic.md) | -1.6% | +9.9% |

## Sources

- benzinga.com: https://www.benzinga.com/markets/asia/22/11/29865765/anti-xi-jinping-protests-drag-down-oil-wti-futures-fall-to-lowest-level-in-nearly-a-year

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