# Oil suffers its worst monthly drop in more than two years

> WTI crude fell 10.8% in October, its steepest monthly decline since July 2016, and is more than $11 below its October 3 high of $76.90. Brent also fell nearly 9% for the month after starting October near four-year highs.

- Date: 2018-10-31 · published 2018-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/62704-oil-suffers-its-worst-monthly-drop-in-more-than-two-years
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude weakens the energy-linked cost base for feed transport and fertilizer and reduces biofuel margin support for vegetable oils, which tends to pressure feed-ingredient prices alongside energy.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-01 | 5 | -7.1% | -2.8 | It documents the steep October sell-off, with Brent down nearly 9% for the month, which context confirms the momentum behind the weekly drop. |

## Sources

- cnbc.com: https://www.cnbc.com/2018/10/31/oil-on-pace-for-worst-month-in-more-than-2-years.html

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