# Oil price benchmarks fall below $100, first time in weeks | Reuters

> Oil prices fell more than 6% on March 15, 2022, to their lowest in almost three weeks, with Brent and WTI settling below $100 for the first time since late February. The drop followed Russia's signal it would allow a revival of the Iran nuclear deal and worries about pandemic lockdowns in China dampening demand.

- Date: 2022-03-15 · published 2022-03-15T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5993-oil-price-benchmarks-fall-below-100-first-time-in-weeks-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude prices reduce energy and freight costs for feed production, though lockdown-driven demand weakness in China could also soften demand for feed ingredients.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-15 | 5 | -21.1% | -5.6 | Brent fell over 6% on March 15 to below $100 as Russia signaled support for an Iran deal revival (more supply) and China lockdowns threatened demand. |
| WTI | 2022-03-21 | 5 | +16.7% | 3.1 | The March 15 drop below $100 on Iran deal and China lockdown worries set the window's low base, making the later rebound sharper. |

## Sources

- reuters.com: https://www.reuters.com/business/oil-falls-ukraine-talks-fears-slower-demand-china-2022-03-15/

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