# COMMODITIES Oil sinks to pandemic lows; metals, soybeans slump as China retaliates

> Brent futures fell about 6.5% to $65.63 and WTI dropped about 7.4% to $62.02 as China retaliated against U.S. tariffs. Metals and soybeans also slumped during the session.

- Date: 2025-04-04 · published 2025-04-04T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/6317-commodities-oil-sinks-to-pandemic-lows-metals-soybeans-slump-as-china-retaliates
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Retaliatory tariffs threaten U.S. soybean export demand to China, pressuring soybean prices and the crush complex, while broader trade fears drag energy lower.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-04-07 | 5 | -15.6% | -5.6 | Brent fell about 6.5% as China retaliated, with metals and soybeans also slumping, which confirms a broad risk-off and demand-driven selloff. |
| BRENT | 2025-04-08 | 5 | -16.6% | -5.2 | Describes the Apr 4 Brent drop of about 6.5% on China's retaliation, with broad commodity weakness showing a risk-off demand shock. |
| WTI | 2025-04-07 | 5 | -15.5% | -4.6 | Same-day selloff in crude as China retaliated, with WTI down about 7.4%, showing demand/sentiment shock. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-08-01 | [China’s U.S. Soybean Purchases Slump to 2004 Low](https://feedsoft.ai/events/57948-china-s-u-s-soybean-purchases-slump-to-2004-low.md) | -1.8% | -1.3% |
| SOY | 2018-02-15 | [Sorghum takes hit as China retaliates for tariffs on solar panels](https://feedsoft.ai/events/66548-sorghum-takes-hit-as-china-retaliates-for-tariffs-on-solar-panels.md) | +1.4% | +2.3% |
| SOY | 2026-03-16 | [Soybean oil slides amid Trump threats to China, US biofuel credits at 1-mth low](https://feedsoft.ai/events/4710-soybean-oil-slides-amid-trump-threats-to-china-us-biofuel-credits-at-1-mth-low.md) | -4.1% | -4.0% |
| SOY | 2024-01-02 | [Commodities 2024: China's soybean demand set to fall amid impending hog supply cuts](https://feedsoft.ai/events/32124-commodities-2024-china-s-soybean-demand-set-to-fall-amid-impending-hog-supply.md) | -4.2% | -5.8% |
| SOY | 2018-06-19 | [Commodities Slide as U.S.-China Spat Hits Soy to Steelmakers - Bloomberg](https://feedsoft.ai/events/10576-commodities-slide-as-u-s-china-spat-hits-soy-to-steelmakers-bloomberg.md) | -3.7% | -7.6% |
| SBM | 2024-01-02 | [Commodities 2024: China's soybean demand set to fall amid impending hog supply cuts](https://feedsoft.ai/events/32124-commodities-2024-china-s-soybean-demand-set-to-fall-amid-impending-hog-supply.md) | -4.2% | -7.1% |
| SBM | 2025-04-26 | [Trump trade war sinking key commodity exports like pork and soybeans](https://feedsoft.ai/events/25130-trump-trade-war-sinking-key-commodity-exports-like-pork-and-soybeans.md) | -0.6% | +0.4% |
| SBM | 2026-06-08 | [China soybean meal prices hit multi-year lows](https://feedsoft.ai/events/5194-china-soybean-meal-prices-hit-multi-year-lows.md) | -4.9% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-plunges-lowest-since-pandemic-natural-gas-soy-slump-china-retaliates-2025-04-04/

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