# Investors flee stocks, pile into bonds as COVID-19 surges; oil plunges

> Oil prices fell more than 6% as worries about future demand and an OPEC+ agreement to increase supply weighed on the market. The decline was the largest since late March, as investors moved from stocks into bonds.

- Date: 2021-07-19 · published 2021-07-19T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6361-investors-flee-stocks-pile-into-bonds-as-covid-19-surges-oil-plunges
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Demand concerns and rising supply expectations push energy prices lower, which can ease costs for biofuel and energy-linked feed inputs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-07-19 | 1 | -6.9% | -5.1 | Explains the more than 6% oil drop on July 19 as investors fled risk assets on Covid fears while OPEC+ agreed to raise supply. |
| WTI | 2021-07-19 | 5 | -10.4% | -3.2 | Risk-off rotation from stocks to bonds on COVID fears and the OPEC+ deal weighed on oil demand expectations. |
| BRENT | 2021-07-18 | 1 | -3.4% | -3.9 | Risk-off rotation from stocks to bonds amid Covid surges and the OPEC+ supply deal pushed oil down more than 6%. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.7% |
| WTI | 2021-12-02 | [Oil Plunges 4.8% as Russia Is Said to Propose OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/6306-oil-plunges-4-8-as-russia-is-said-to-propose-opec-output-hike-bloomberg.md) | +10.6% | +17.4% |
| WTI | 2022-04-01 | [Oil falls most in 2 years after oil stockpile release](https://feedsoft.ai/events/11045-oil-falls-most-in-2-years-after-oil-stockpile-release.md) | -4.4% | +4.2% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2021-07-19 | [U.S. oil drops 8% to below $70 amid OPEC production boost and Covid fears](https://feedsoft.ai/events/6358-u-s-oil-drops-8-to-below-70-amid-opec-production-boost-and-covid-fears.md) | +0.6% | -4.7% |
| BRENT | 2021-07-19 | [Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases \| Reuters](https://feedsoft.ai/events/6357-oil-piles-on-losses-following-opec-deal-to-boost-supply-rising-covid-cases.md) | +0.6% | -4.4% |
| BRENT | 2021-12-02 | [Oil Plunges 4.8% as Russia Is Said to Propose OPEC+ Output Hike - Bloomberg](https://feedsoft.ai/events/6306-oil-plunges-4-8-as-russia-is-said-to-propose-opec-output-hike-bloomberg.md) | +9.7% | +14.1% |
| BRENT | 2022-04-01 | [Oil falls most in 2 years after oil stockpile release](https://feedsoft.ai/events/11045-oil-falls-most-in-2-years-after-oil-stockpile-release.md) | -6.9% | +1.2% |

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/global-markets-wrapup-5-pix-2021-07-19/

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