# Arab News | Oil market shift to be marginally less tight

> An Arab News analysis says oil market sentiment has shifted from supply concerns to recession fears, causing a sharp sell-off. Physical crude markets are expected to stay tight in August, with inventories building and Brent possibly sliding toward $100 or below in 2023.

- Date: 2022-07-31 · published 2022-07-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/40648-arab-news-oil-market-shift-to-be-marginally-less-tight
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of looser balances from September onward point to lower crude and diesel costs, which eases feed transport and processing expenses. Weaker energy also trims biofuel support for vegetable oils.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-12-12 | [What led to this fall's oil price slide — and what might come next \| CBC News](https://feedsoft.ai/events/32886-what-led-to-this-fall-s-oil-price-slide-and-what-might-come-next-cbc-news.md) | +1.7% | +0.6% |
| WTI | 2018-12-20 | [Oil plunges nearly 5 percent to 17-month low as stock market slumps](https://feedsoft.ai/events/8704-oil-plunges-nearly-5-percent-to-17-month-low-as-stock-market-slumps.md) | -6.7% | +12.5% |
| WTI | 2022-07-12 | [Oil falls 8% as global recession fears spook market \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/40647-oil-falls-8-as-global-recession-fears-spook-market-oil-and-gas-news-al-jazeera.md) | -1.5% | -12.2% |
| WTI | 2021-12-03 | [Oil drops for sixth straight week as Omicron jolts markets \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/6302-oil-drops-for-sixth-straight-week-as-omicron-jolts-markets-opec-news-al-jazeera.md) | +6.5% | +13.1% |
| WTI | 2018-02-12 | [Loonie falls amid market turmoil, but experts see limited downside \| CBC News](https://feedsoft.ai/events/66725-loonie-falls-amid-market-turmoil-but-experts-see-limited-downside-cbc-news.md) | +4.4% | +3.6% |
| BRENT | 2023-12-12 | [What led to this fall's oil price slide — and what might come next \| CBC News](https://feedsoft.ai/events/32886-what-led-to-this-fall-s-oil-price-slide-and-what-might-come-next-cbc-news.md) | +3.3% | +2.3% |
| BRENT | 2018-12-20 | [Oil plunges nearly 5 percent to 17-month low as stock market slumps](https://feedsoft.ai/events/8704-oil-plunges-nearly-5-percent-to-17-month-low-as-stock-market-slumps.md) | -8.1% | +10.6% |
| BRENT | 2022-07-12 | [Oil falls 8% as global recession fears spook market \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/40647-oil-falls-8-as-global-recession-fears-spook-market-oil-and-gas-news-al-jazeera.md) | +0.7% | -9.8% |

## Sources

- arabnews.com: https://www.arabnews.com/opinion/oil-market-shift-to-be-marginally-less-tight-2133371

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