# Crudes Fall 4% Week Over Week as China's Lockdowns Stoke Demand Fears

> Crude futures settled down 1.5% to 2% on the week of April 22 as COVID lockdowns in China cut fuel demand by over 20% in March and April. A strengthening dollar after Fed signals of aggressive rate hikes added pressure.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: disease · region China · magnitude medium
- Page: https://feedsoft.ai/events/41762-crudes-fall-4-week-over-week-as-china-s-lockdowns-stoke-demand-fears
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

China's sharp demand contraction from lockdowns is a bearish signal for crude and diesel, and softer Chinese industrial and feed demand weighs on the broader commodity complex.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-23 | [Oil falls 3% as specter of China virus threatens fuel demand](https://feedsoft.ai/events/12377-oil-falls-3-as-specter-of-china-virus-threatens-fuel-demand.md) | -6.1% | -5.3% |
| WTI | 2020-02-04 | [Oil extends decline as virus hits China demand \| Daily FT](https://feedsoft.ai/events/7410-oil-extends-decline-as-virus-hits-china-demand-daily-ft.md) | -1.0% | -5.7% |
| WTI | 2020-01-27 | [Oil drops below $60 as China virus drives demand concern \| Fox Business](https://feedsoft.ai/events/54975-oil-drops-below-60-as-china-virus-drives-demand-concern-fox-business.md) | -4.7% | -5.1% |
| WTI | 2020-02-03 | [Oil Slide Reaches $50 a Barrel After Virus Curbs China Demand - Bloomberg](https://feedsoft.ai/events/7407-oil-slide-reaches-50-a-barrel-after-virus-curbs-china-demand-bloomberg.md) | -2.4% | -9.3% |
| WTI | 2021-11-26 | [Oil crashes as coronavirus strain threatens demand recovery \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/4773-oil-crashes-as-coronavirus-strain-threatens-demand-recovery-oil-and-gas-news-al.md) | -15.0% | -5.7% |
| BRENT | 2020-01-23 | [Oil falls 3% as specter of China virus threatens fuel demand](https://feedsoft.ai/events/12377-oil-falls-3-as-specter-of-china-virus-threatens-fuel-demand.md) | -4.8% | -5.2% |
| BRENT | 2020-02-04 | [Oil extends decline as virus hits China demand \| Daily FT](https://feedsoft.ai/events/7410-oil-extends-decline-as-virus-hits-china-demand-daily-ft.md) | -1.6% | -3.7% |
| BRENT | 2020-01-27 | [Oil drops below $60 as China virus drives demand concern \| Fox Business](https://feedsoft.ai/events/54975-oil-drops-below-60-as-china-virus-drives-demand-concern-fox-business.md) | -3.4% | -2.4% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2022/04/22/wti-slides-usd-regains-strength

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