# Oil Prices for Mar. 09, 2022: Brent Crude, WTI - Bloomberg

> Brent fell more than 17% toward $105 a barrel in a risk-off move across markets. The UAE said it would call on fellow OPEC+ members to raise output faster. Ukraine-related headlines also weighed on sentiment.

- Date: 2022-03-08 · published 2022-03-08T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5779-oil-prices-for-mar-09-2022-brent-crude-wti-bloomberg
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A faster OPEC+ output increase lowers the crude price floor that supports biofuel and diesel costs for feed and grain handling. The sharp drop points to lower energy-linked costs for feed ingredients.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-09 | 1 | -12.5% | -5.8 | Reports the risk-off move and the UAE call for faster OPEC+ output, both pressuring Brent. |
| BRENT | 2022-03-15 | 5 | -21.1% | -5.6 | Brent dropped over 17% intraday toward $105 in a risk-off move, with UAE OPEC+ output comments adding supply relief and sentiment pressure. |
| BRENT | 2022-03-14 | 5 | -19.6% | -4.8 | Brent fell over 17% intraday toward $105 on risk-off sentiment and the UAE's call for faster OPEC+ output increases. |
| WTI | 2022-03-14 | 5 | -18.4% | -4.5 | Risk-off selling and the UAE call for faster OPEC+ output pushed Brent down sharply, contributing to the reversal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-04-25 | [Oil Tumbles Most in Two Months as Trump Promises Lower Prices - Bloomberg](https://feedsoft.ai/events/8094-oil-tumbles-most-in-two-months-as-trump-promises-lower-prices-bloomberg.md) | -2.7% | -3.5% |
| BRENT | 2024-09-26 | [Crude oil prices today: WTI falls as Saudi committed to higher output](https://feedsoft.ai/events/28481-crude-oil-prices-today-wti-falls-as-saudi-committed-to-higher-output.md) | -0.1% | +0.5% |
| BRENT | 2022-04-01 | [Sharp decline in crude oil prices – EnergyScan](https://feedsoft.ai/events/11050-sharp-decline-in-crude-oil-prices-energyscan.md) | -6.9% | +1.2% |
| BRENT | 2019-03-01 | [Crude Oil Prices Fall On Trump's OPEC Tweet But U.S. Shale Boom Continues](https://feedsoft.ai/events/60777-crude-oil-prices-fall-on-trump-s-opec-tweet-but-u-s-shale-boom-continues.md) | +0.0% | +2.2% |
| BRENT | 2018-10-25 | [OPEC Should Boost Crude Production at Next Meeting, the IEA Says - Bloomberg](https://feedsoft.ai/events/62454-opec-should-boost-crude-production-at-next-meeting-the-iea-says-bloomberg.md) | -2.1% | -18.5% |
| WTI | 2017-02-06 | [U.S. Oil and Gas Prices May Tumble On Trump's ‘Energy Revolution’ - Bloomberg](https://feedsoft.ai/events/72693-u-s-oil-and-gas-prices-may-tumble-on-trump-s-energy-revolution-bloomberg.md) | +0.1% | -1.2% |
| WTI | 2019-04-25 | [Oil Tumbles Most in Two Months as Trump Promises Lower Prices - Bloomberg](https://feedsoft.ai/events/8094-oil-tumbles-most-in-two-months-as-trump-promises-lower-prices-bloomberg.md) | -3.6% | -6.8% |
| WTI | 2024-09-26 | [Crude oil prices today: WTI falls as Saudi committed to higher output](https://feedsoft.ai/events/28481-crude-oil-prices-today-wti-falls-as-saudi-committed-to-higher-output.md) | +0.5% | +1.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-03-08/oil-pushes-higher-after-u-s-escalates-russia-sanctions-with-ban

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