# Oil: Three Signs of Prices Hitting Bottom

> WTI crude fell 24% between April 23 and June 5, and gasoline and ULSD dropped 21% and 18% over the same period. The CME piece argues soybean oil, skew in crude options and refined-product options gave early warnings of the decline.

- Date: 2019-06-19 · published 2019-06-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/58672-oil-three-signs-of-prices-hitting-bottom
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Soybean oil often leads crude because of biofuel links, so its moves help signal energy direction. Weaker crude lowers biofuel economics and can pressure soy oil and vegetable oil prices.

## Read by commodity

- SBO: neutral
- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Sources

- cmegroup.com: https://www.cmegroup.com/education/featured-reports/oil-three-signs-of-prices-hitting-bottom

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