# Oil suffers biggest weekly drop since October on demand worries

> Oil posted its biggest weekly decline since October, with Brent settling near $64.53 and WTI near $61.42 after a rally that began in November. Traders reacted to renewed lockdowns in parts of Europe and signs of fragile physical demand in China and the U.S.

- Date: 2021-03-19 · published 2021-03-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/6200-oil-suffers-biggest-weekly-drop-since-october-on-demand-worries
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker crude demand signals pressure energy-linked costs for feed and biofuel inputs in the near term. Analysts see the drop as a correction within a larger rally, so the price implication is limited.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-03-18 | 1 | -8.3% | -5.4 | Cites European lockdowns and fragile physical demand as the cause of the decline, but it is a weekly recap. |

## Sources

- ft.com: https://www.ft.com/content/0d6caaf7-d00a-4a2f-a5e9-877dabf09d39?syn-25a6b1a6=1

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