# Oil Price: Crude Down on China COVID Lockdowns and Fed Rate Outlook - Markets Insider

> Brent slid 4.76% to $101.10 and WTI fell 4.78% to $97.18, extending a second day of losses. The drop reflected China's COVID containment efforts and the Federal Reserve's signal of rate hikes.

- Date: 2022-04-25 · published 2022-04-25T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42016-oil-price-crude-down-on-china-covid-lockdowns-and-fed-rate-outlook-markets
- 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

Weaker Chinese demand and tighter Fed policy pressure energy prices and strengthen the dollar, lowering costs for energy inputs but weighing on commodity sentiment.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +19.9% | +86.8% |
| BRENT | 2023-03-07 | [Oil and Gold Prices Slump As Powell Signals Further Rate Hikes to Come - Markets Insider](https://feedsoft.ai/events/36780-oil-and-gold-prices-slump-as-powell-signals-further-rate-hikes-to-come-markets.md) | -6.7% | -0.8% |
| BRENT | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +1.5% | -0.2% |
| BRENT | 2021-04-21 | [Oil prices drop as India’s COVID-19 surge dents demand outlook \| Reuters](https://feedsoft.ai/events/47759-oil-prices-drop-as-india-s-covid-19-surge-dents-demand-outlook-reuters.md) | +0.6% | +4.4% |
| 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 | 2020-04-26 | [Oil price crash, COVID-19 weaken grains and oilseed markets](https://feedsoft.ai/events/53733-oil-price-crash-covid-19-weaken-grains-and-oilseed-markets.md) | +21.1% | +105.0% |
| WTI | 2023-03-07 | [Oil and Gold Prices Slump As Powell Signals Further Rate Hikes to Come - Markets Insider](https://feedsoft.ai/events/36780-oil-and-gold-prices-slump-as-powell-signals-further-rate-hikes-to-come-markets.md) | -7.1% | -0.0% |
| WTI | 2023-12-13 | [Gold, Crude Oil: Fed rebuttal of rate cut bets may accelerate downside momentum](https://feedsoft.ai/events/32474-gold-crude-oil-fed-rebuttal-of-rate-cut-bets-may-accelerate-downside-momentum.md) | +7.2% | +5.4% |

## Sources

- markets.businessinsider.com: https://markets.businessinsider.com/news/commodities/oil-price-today-china-covid-lockdowns-fed-rate-hikes-concerns-2022-4

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