# Ringgit at risk from weak crude oil prices

> The ringgit closed at 4.36 per US dollar after dipping to 4.40 intraday as commodity-sensitive currencies fell. The May WTI contract settled at about US$10 per barrel, and the June contract had halved in two sessions. Analysts said the ringgit could keep struggling until oil prices stabilise.

- Date: 2020-04-23 · published 2020-04-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/53931-ringgit-at-risk-from-weak-crude-oil-prices
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak crude signals excess supply and weak demand, which hurts oil-linked currencies like the ringgit. Persistent energy weakness also feeds into broader commodity and input cost expectations.

## Read by commodity

- WTI: bearish ▼
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | +0.3% | -1.2% |
| WTI | 2018-12-20 | [Oil demand flashes red, sending crude prices even lower](https://feedsoft.ai/events/11080-oil-demand-flashes-red-sending-crude-prices-even-lower.md) | -6.7% | +12.5% |
| WTI | 2026-07-07 | [Oil prices settle at pre-Iran war levels as crude output grows](https://feedsoft.ai/events/18255-oil-prices-settle-at-pre-iran-war-levels-as-crude-output-grows.md) | +13.9% | +17.6% |
| WTI | 2024-07-30 | [Oil prices slide 1%, settle at 7-week low on China worries](https://feedsoft.ai/events/29441-oil-prices-slide-1-settle-at-7-week-low-on-china-worries.md) | -3.7% | +1.7% |
| WTI | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -5.0% | -5.3% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2020/04/23/ringgit-at-risk-from-weak-crude-oil-prices/

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