# Oil slides 2%, posts second weekly decline as supply fears recede | Reuters

> Oil dropped about 2% on Friday, posting a second weekly decline, with Brent settling at $87.62 and WTI at $80.08. Concerns about weaker Chinese demand and further US interest rate increases weighed on prices, and a stronger dollar added pressure.

- Date: 2022-11-18 · published 2022-11-18T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38868-oil-slides-2-posts-second-weekly-decline-as-supply-fears-recede-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Softer crude and a firmer dollar lower energy and biofuel input costs, which can pressure vegetable oil prices. A stronger dollar also makes US commodities more expensive for importers, weighing on export demand.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-07-08 | [Oil rises 2% but posts weekly loss on recession fears](https://feedsoft.ai/events/12617-oil-rises-2-but-posts-weekly-loss-on-recession-fears.md) | -5.1% | -11.8% |
| BRENT | 2023-03-17 | [Oil prices settle down, post big weekly losses on bank fears \| Reuters](https://feedsoft.ai/events/37045-oil-prices-settle-down-post-big-weekly-losses-on-bank-fears-reuters.md) | +1.6% | +17.5% |
| BRENT | 2025-01-27 | [Oil hits 2-week low as China's DeepSeek AI spurs demand fears \| Reuters](https://feedsoft.ai/events/26682-oil-hits-2-week-low-as-china-s-deepseek-ai-spurs-demand-fears-reuters.md) | -2.1% | -5.0% |
| BRENT | 2022-07-06 | [Oil slides 2% to 12-week low on fears of global recession](https://feedsoft.ai/events/12613-oil-slides-2-to-12-week-low-on-fears-of-global-recession.md) | -3.2% | -2.9% |
| BRENT | 2022-06-23 | [Oil prices slump as investors fear Fed rate hikes will hurt demand \| Reuters](https://feedsoft.ai/events/41110-oil-prices-slump-as-investors-fear-fed-rate-hikes-will-hurt-demand-reuters.md) | +4.3% | -2.0% |
| WTI | 2022-07-07 | [Oil Posts Weekly Decline as Recession Fears Muddle the Outlook - Bloomberg](https://feedsoft.ai/events/12616-oil-posts-weekly-decline-as-recession-fears-muddle-the-outlook-bloomberg.md) | -2.0% | -7.4% |
| WTI | 2022-07-08 | [Oil rises 2% but posts weekly loss on recession fears](https://feedsoft.ai/events/12617-oil-rises-2-but-posts-weekly-loss-on-recession-fears.md) | -6.6% | -13.1% |
| WTI | 2023-03-17 | [Oil prices settle down, post big weekly losses on bank fears \| Reuters](https://feedsoft.ai/events/37045-oil-prices-settle-down-post-big-weekly-losses-on-bank-fears-reuters.md) | +2.4% | +21.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-climbs-dollar-slips-demand-outlook-clouds-market-2022-11-18/

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