# U.S. oil plunges 25%, Brent falls below $20 a barrel | Reuters

> Brent crude fell below $20 a barrel and U.S. WTI plunged about 25% to settle at $12.78 as investors fled the U.S. benchmark amid scarce storage. Fuel demand is down roughly 30% globally, and about 85% of worldwide onshore storage was reported full.

- Date: 2020-04-27 · published 2020-04-27T12:00:00.000Z
- Category: macro · region Global · magnitude high
- Page: https://feedsoft.ai/events/53810-u-s-oil-plunges-25-brent-falls-below-20-a-barrel-reuters
- 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

Collapsing crude prices lower the cost of diesel and fuel inputs but signal sharply weaker energy demand, which tends to weigh on biofuel economics and feed-ingredient sentiment.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2020-05-04 | 5 | +30.1% | 4.7 | The April 27 WTI plunge to $12.78 set a low base for ULSD, so the following rebound into May 4 was large in percentage terms. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-17 | [Brent crude sinks below $30 a barrel as recession fears weigh](https://feedsoft.ai/events/7658-brent-crude-sinks-below-30-a-barrel-as-recession-fears-weigh.md) | -19.2% | -30.3% |
| WTI | 2018-12-24 | [US crude falls below $43 a barrel as stock market sinks](https://feedsoft.ai/events/8703-us-crude-falls-below-43-a-barrel-as-stock-market-sinks.md) | -0.5% | +15.7% |
| WTI | 2022-08-30 | [Oil dives nearly $6 a barrel on demand fears, Iraq exports \| Reuters](https://feedsoft.ai/events/40224-oil-dives-nearly-6-a-barrel-on-demand-fears-iraq-exports-reuters.md) | -10.4% | -19.0% |
| WTI | 2020-03-09 | [Shares sunk by coronavirus panic, oil prices plunge \| Reuters](https://feedsoft.ai/events/4641-shares-sunk-by-coronavirus-panic-oil-prices-plunge-reuters.md) | -23.0% | -31.2% |
| WTI | 2023-05-11 | [Oil falls 2% on weak US and Chinese economic data \| Reuters](https://feedsoft.ai/events/36104-oil-falls-2-on-weak-us-and-chinese-economic-data-reuters.md) | +0.4% | -1.7% |
| BRENT | 2020-03-17 | [Brent crude sinks below $30 a barrel as recession fears weigh](https://feedsoft.ai/events/7658-brent-crude-sinks-below-30-a-barrel-as-recession-fears-weigh.md) | -12.6% | -12.5% |
| BRENT | 2022-08-30 | [Oil dives nearly $6 a barrel on demand fears, Iraq exports \| Reuters](https://feedsoft.ai/events/40224-oil-dives-nearly-6-a-barrel-on-demand-fears-iraq-exports-reuters.md) | -9.2% | -19.2% |
| BRENT | 2020-03-09 | [Shares sunk by coronavirus panic, oil prices plunge \| Reuters](https://feedsoft.ai/events/4641-shares-sunk-by-coronavirus-panic-oil-prices-plunge-reuters.md) | -27.3% | -36.6% |

## Sources

- reuters.com: https://www.reuters.com/article/world/us-oil-plunges-25-brent-falls-below-20-a-barrel-idUSKCN2280TQ/

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