# Oil falls for the week on supply concerns, rising COVID cases

> Oil prices were little changed on Friday but ended the week lower, with Brent down almost 3% and WTI down almost 4% over the week. It was Brent's third consecutive weekly decline, the first such run since April 2020. Traders weighed expected supply growth against rising coronavirus cases that could bring lockdowns and weaker demand.

- Date: 2021-07-16 · published 2021-07-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/6365-oil-falls-for-the-week-on-supply-concerns-rising-covid-cases
- 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 the cost of diesel and ethanol-linked energy inputs and can weaken biofuel margins that support corn and soybean oil demand. Sustained softness in crude would modestly pressure energy-linked feed input costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-falls-third-day-supply-worries-mount-2021-07-16/

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