# Oil slumps 4% as Shanghai lockdowns stoke demand fears

> Brent futures fell $4.33, or 4.1%, to settle at $102.32 a barrel, and WTI dropped 3.5% to $98.54. Prices slid on growing concern about energy demand as COVID-19 lockdowns persist, including in Shanghai.

- Date: 2022-04-25 · published 2022-04-25T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/42020-oil-slumps-4-as-shanghai-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)

## Why it matters

Weaker Chinese energy demand from lockdowns points to softer diesel and fuel demand, which lowers the cost of feedstock and freight for feed producers. Lower energy costs ease pressure on crush margins and transport costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-27 | [Oil drops as demand fears overshadow stimulus hopes](https://feedsoft.ai/events/5327-oil-drops-as-demand-fears-overshadow-stimulus-hopes.md) | +37.1% | -32.8% |
| WTI | 2024-05-03 | [Oil Slumps as Macroeconomic Data Highlight Demand Slowdown](https://feedsoft.ai/events/7235-oil-slumps-as-macroeconomic-data-highlight-demand-slowdown.md) | +0.4% | -3.0% |
| WTI | 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) | -2.8% | -5.2% |
| WTI | 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) | +4.5% | -8.0% |
| WTI | 2018-02-02 | [Oil prices fall as US stock market slumps and dollar strengthens](https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens.md) | -7.0% | -7.1% |
| BRENT | 2020-03-27 | [Oil drops as demand fears overshadow stimulus hopes](https://feedsoft.ai/events/5327-oil-drops-as-demand-fears-overshadow-stimulus-hopes.md) | -1.2% | -25.9% |
| 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 | 2022-06-23 | [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% |

## Sources

- reuters.com: https://www.reuters.com/business/oil-prices-extend-losses-shanghai-lockdowns-hit-demand-outlook-2022-04-25/

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