# Brent crude settles below $100/bbl on higher dollar, weak demand outlook

> Brent crude settled $7.61, or 7.1%, lower at $99.49 a barrel, its lowest since April. WTI fell 7.9% to $95.84 on a stronger dollar and weak demand outlook.

- Date: 2022-07-12 · published 2022-07-12T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40661-brent-crude-settles-below-100-bbl-on-higher-dollar-weak-demand-outlook
- 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

A sharp crude drop lowers energy and freight costs for feed and weakens the biofuel support for vegetable oils and corn.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-09-10 | [Oil settles near 3-year low on weak demand outlook \| Reuters](https://feedsoft.ai/events/10169-oil-settles-near-3-year-low-on-weak-demand-outlook-reuters.md) | +1.7% | +12.8% |
| BRENT | 2020-09-07 | [Brent Crude Tumbles Below $40 in Wake of Souring Demand Outlook - Bloomberg](https://feedsoft.ai/events/7473-brent-crude-tumbles-below-40-in-wake-of-souring-demand-outlook-bloomberg.md) | -6.1% | -7.7% |
| BRENT | 2020-10-01 | [Oil dips nearly 4% on weak demand outlook and higher OPEC output](https://feedsoft.ai/events/50818-oil-dips-nearly-4-on-weak-demand-outlook-and-higher-opec-output.md) | +1.7% | -5.3% |
| BRENT | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -0.5% | +11.0% |
| BRENT | 2020-03-30 | [Crude oil futures drop as pandemic darkens demand outlook](https://feedsoft.ai/events/5321-crude-oil-futures-drop-as-pandemic-darkens-demand-outlook.md) | +21.9% | -26.3% |
| WTI | 2024-09-10 | [Oil settles near 3-year low on weak demand outlook \| Reuters](https://feedsoft.ai/events/10169-oil-settles-near-3-year-low-on-weak-demand-outlook-reuters.md) | +2.1% | +11.9% |
| WTI | 2020-09-07 | [Brent Crude Tumbles Below $40 in Wake of Souring Demand Outlook - Bloomberg](https://feedsoft.ai/events/7473-brent-crude-tumbles-below-40-in-wake-of-souring-demand-outlook-bloomberg.md) | -6.2% | -1.4% |
| WTI | 2020-10-01 | [Oil dips nearly 4% on weak demand outlook and higher OPEC output](https://feedsoft.ai/events/50818-oil-dips-nearly-4-on-weak-demand-outlook-and-higher-opec-output.md) | -0.6% | -7.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-slides-renewed-china-covid-curbs-temper-fuel-demand-outlook-2022-07-12/

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