# Trade War Slams Crude Oil, Stocks and Bond Yields

> Crude oil broke below $60 per barrel for the first time since March 29 and closed at $57.74 as US-China trade tensions increased. Stocks and bond yields also fell, and independent oil and gas producers dropped sharply. Analysts noted that an OPEC output cut could stabilize prices but was unlikely before a later summer meeting.

- Date: 2019-05-24 · published 2019-05-24T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6609-trade-war-slams-crude-oil-stocks-and-bond-yields
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Trade-driven demand concerns are overpowering supply factors and pushing crude lower. Weaker energy prices reduce biofuel economics and can soften demand for corn and soybean oil.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-06-05 | 5 | -12.0% | -3.0 | Crude fell below $60 and closed at $57.74 on escalating US-China trade tensions, weakening the demand outlook, though it dates from May 24, about 8 trading days before the window end. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-08-23 | [Oil slips as trade spat escalates; but crude stock decline supports U.S. crude](https://feedsoft.ai/events/63702-oil-slips-as-trade-spat-escalates-but-crude-stock-decline-supports-u-s-crude.md) | +2.6% | +4.3% |
| WTI | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | +0.9% | +9.0% |
| WTI | 2018-04-02 | [Canadian dollar dips as stocks and oil tumble on rising trade tensions - The Globe and Mail](https://feedsoft.ai/events/65746-canadian-dollar-dips-as-stocks-and-oil-tumble-on-rising-trade-tensions-the.md) | -4.4% | +5.0% |
| WTI | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -2.2% | -1.1% |
| WTI | 2019-05-31 | [Oil Prices Slide on Trade Tensions and China Fears](https://feedsoft.ai/events/9884-oil-prices-slide-on-trade-tensions-and-china-fears.md) | -6.9% | +4.9% |
| BRENT | 2018-08-23 | [Oil slips as trade spat escalates; but crude stock decline supports U.S. crude](https://feedsoft.ai/events/63702-oil-slips-as-trade-spat-escalates-but-crude-stock-decline-supports-u-s-crude.md) | +3.7% | +7.5% |
| BRENT | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | -2.9% | +2.1% |
| BRENT | 2019-08-05 | [Oil falls 3% as trade war concerns hit demand outlook](https://feedsoft.ai/events/10826-oil-falls-3-as-trade-war-concerns-hit-demand-outlook.md) | -5.8% | -1.3% |

## Sources

- investopedia.com: https://www.investopedia.com/trade-war-slams-crude-oil-stocks-and-bond-yields-4688392

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