# The fall in the price of oil pulls down quotes for vegetable oils 01.12.2021 - UkrAgroConsult

> Oil prices fell about 4% on November 30, 2021, after a new coronavirus strain was reported, with Brent and WTI losing over 4%. Palm oil fell 4% and soybean oil 5.4% in the same session. Sunflower oil export prices in Ukraine also declined.

- Date: 2021-12-01 · published 2021-12-01T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5260-the-fall-in-the-price-of-oil-pulls-down-quotes-for-vegetable-oils-01-12-2021
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Weaker crude reduces the biodiesel feedstock appeal of vegetable oils, pressuring palm, soyoil and sunflower oil prices. Lower energy prices feed directly into the vegetable oil complex.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- PALMOIL: bearish ▼
- SUNMEAL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-12-02 | 5 | -8.9% | -3.3 | Omicron-triggered 4% crude oil selloff on Nov 30 dragged palm oil down 4% via lower biofuel/energy demand and risk-off sentiment. |
| PALMOIL | 2021-12-01 | 1 | -7.3% | -7.0 | Crude oil fell about 4% on Nov 30 on Omicron fears, and palm oil and soybean oil fell 4% and 5.4% in the same session, a sentiment and energy-linked selloff that drove the large one-day drop. |
| PALMOIL | 2021-12-01 | 5 | -7.5% | -2.8 | Crude oil fell about 4% on Omicron fears on Nov 30, dragging palm oil down about 4% via lower biodiesel and energy-linked demand and risk-off sentiment, which fits the 5-day drop. |
| BRENT | 2021-12-01 | 5 | -15.6% | -5.2 | Oil fell about 4% on Nov 30 on Omicron news, confirming the continued sell-off late in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-30 | [Prices for vegetable oil are falling after oil quotations](https://feedsoft.ai/events/51197-prices-for-vegetable-oil-are-falling-after-oil-quotations.md) | +3.7% | +0.8% |
| WTI | 2021-12-01 | [Global corn prices accelerated their decline 01.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43623-global-corn-prices-accelerated-their-decline-01-12-2021-ukragroconsult.md) | +8.8% | +15.8% |
| WTI | 2022-07-13 | [Corn prices fell 7.8%, pressured by a drop in the oil market and data from the USDA report 13.07.2022 - UkrAgroConsult](https://feedsoft.ai/events/6833-corn-prices-fell-7-8-pressured-by-a-drop-in-the-oil-market-and-data-from-the.md) | +8.7% | -4.9% |
| WTI | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -2.9% | +4.5% |
| WTI | 2018-06-17 | [The Fed Is Driving Down Oil Prices \| OilPrice.com](https://feedsoft.ai/events/64443-the-fed-is-driving-down-oil-prices-oilprice-com.md) | +5.9% | +4.8% |
| BRENT | 2021-12-01 | [Global corn prices accelerated their decline 01.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43623-global-corn-prices-accelerated-their-decline-01-12-2021-ukragroconsult.md) | +6.8% | +9.0% |
| BRENT | 2022-07-13 | [Corn prices fell 7.8%, pressured by a drop in the oil market and data from the USDA report 13.07.2022 - UkrAgroConsult](https://feedsoft.ai/events/6833-corn-prices-fell-7-8-pressured-by-a-drop-in-the-oil-market-and-data-from-the.md) | +7.7% | -3.1% |
| BRENT | 2025-03-05 | [Declining crude oil and vegetable oil prices lower prices for sunflower seeds and oil in Ukraine](https://feedsoft.ai/events/11140-declining-crude-oil-and-vegetable-oil-prices-lower-prices-for-sunflower-seeds.md) | -1.6% | +6.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/the-fall-in-the-price-of-oil-pulls-down-quotes-for-vegetable-oils/

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