# Oil prices drop as Trump announces positive test for coronavirus; yen strengthens against dollar

> Brent fell about 2.4% to $39.94 and US crude fell 2.4% to $37.78 in Asian trade after Trump's positive COVID-19 test. The yen strengthened to 105.17 per dollar from an earlier low of 105.66.

- Date: 2020-10-01 · published 2020-10-01T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/50869-oil-prices-drop-as-trump-announces-positive-test-for-coronavirus-yen
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Lower crude weakens the energy input to biofuel economics and freight costs, which pressures soyoil and corn-based ethanol margins. The yen move is a secondary, short-lived effect.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +21.9% | -26.3% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| BRENT | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +15.1% | +0.4% |
| BRENT | 2021-11-19 | [OIL FUTURES: Prices slide amid European lockdowns, stronger US dollar \| S&P Global](https://feedsoft.ai/events/11826-oil-futures-prices-slide-amid-european-lockdowns-stronger-us-dollar-s-and-p.md) | +0.4% | -8.6% |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| WTI | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +17.0% | +4.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/10/02/asia-markets-australia-retail-sales-japan-markets-currencies.html

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