# Global oil prices drop more than 13% from their highest finish in nearly 14 years - MarketWatch

> Oil futures settled down more than 13% after hitting a nearly 14-year high in the prior session, when Biden banned US imports of Russian energy. WTI fell $15 to $108.70 and Brent fell $16.84 to $111.14. Heating-oil futures dropped nearly 22%, their biggest daily decline since 1991.

- Date: 2022-03-09 · published 2022-03-09T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5780-global-oil-prices-drop-more-than-13-from-their-highest-finish-in-nearly-14
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The heating-oil collapse signals a sharp fall in diesel costs, which lowers feed transport and processing expenses. Crude and diesel weakness reduces energy-driven support for biofuel-linked vegetable oil prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2022-03-14 | 5 | -18.4% | -4.5 | The roughly 13% one-day crash on March 9 from near 14-year highs drove much of the 5-day decline into March 14, reflecting profit-taking after the US import ban was priced in. |
| BRENT | 2022-03-14 | 5 | -19.6% | -4.8 | Brent and WTI fell more than 13% after the prior session's near 14-year high, which reversed the peak and drove the window's drop. |
| BRENT | 2022-03-09 | 1 | -12.5% | -5.8 | Documents the decline from a near 14-year high after the prior session's US ban on Russian imports, indicating profit-taking and a premium unwind. |
| BRENT | 2022-03-15 | 5 | -21.1% | -5.6 | Futures settled down over 13% from a near 14-year high, confirming the sharp reversal after the US import ban. |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-prices-pull-back-from-nearly-14-year-highs-11646831288

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