# Oil Markets Hit Hard By Trade War Escalation | OilPrice.com

> Oil prices plunged on Friday after China announced new tariffs on $75 billion of American goods, including a 5% levy on US crude. Soybean futures in Chicago fell about 1%, and WTI dropped more than 3%. Fed Chair Powell's Jackson Hole speech highlighted trade policy uncertainty.

- Date: 2019-08-25 · published 2019-08-25T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/57749-oil-markets-hit-hard-by-trade-war-escalation-oilprice-com
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

New Chinese tariffs on US soybeans and pork weaken export demand and pressure soybean and meal prices, while the crude levy and slowdown fears pressure energy.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-08-23 | [New Trade War Escalation Sends Shockwaves Through Oil Markets \| OilPrice.com](https://feedsoft.ai/events/57750-new-trade-war-escalation-sends-shockwaves-through-oil-markets-oilprice-com.md) | +0.0% | +3.1% |
| SOY | 2019-08-07 | [Trade war escalation wreaks havoc in markets: Impact on FX \| Lombard Odier](https://feedsoft.ai/events/5370-trade-war-escalation-wreaks-havoc-in-markets-impact-on-fx-lombard-odier.md) | +2.9% | +1.7% |
| SOY | 2018-03-23 | [Asian markets jittery over trade war fears](https://feedsoft.ai/events/66230-asian-markets-jittery-over-trade-war-fears.md) | +1.5% | -0.1% |
| SOY | 2025-04-21 | [U.S.-China trade war 2.0: What are the implications for global oilseed markets? \| IFPRI](https://feedsoft.ai/events/14672-u-s-china-trade-war-2-0-what-are-the-implications-for-global-oilseed-markets.md) | +1.3% | +1.3% |
| SOY | 2019-08-01 | [Trump escalates trade war with more China tariffs](https://feedsoft.ai/events/8497-trump-escalates-trade-war-with-more-china-tariffs.md) | -1.8% | -1.3% |
| WTI | 2019-08-23 | [New Trade War Escalation Sends Shockwaves Through Oil Markets \| OilPrice.com](https://feedsoft.ai/events/57750-new-trade-war-escalation-sends-shockwaves-through-oil-markets-oilprice-com.md) | +2.4% | +5.1% |
| WTI | 2019-08-01 | [Trump escalates trade war with more China tariffs](https://feedsoft.ai/events/8497-trump-escalates-trade-war-with-more-china-tariffs.md) | -12.7% | -4.7% |
| WTI | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -2.2% | -1.1% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Energy-General/Oil-Markets-Hit-Hard-By-Trade-War-Escalation.html

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