# Commentary: Oil prices tumble as traders look beyond Iran

> Oil prices have fallen sharply since a cyclical peak in early October, driven by surging production and concerns about the global economy and consumption growth in 2019. Front-month Brent dropped more than $17 a barrel, or about 20%, over five weeks.

- Date: 2018-11-14 · published 2018-11-14T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6658-commentary-oil-prices-tumble-as-traders-look-beyond-iran
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising output combined with weaker demand expectations signals a looser energy market, which typically lowers diesel and fertilizer costs and reduces the energy-linked pressure on feed prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-23 | 1 | -5.6% | -3.1 | Describes the ongoing slide driven by surging supply and weaker 2019 demand worries, the fundamental backdrop that likely fed the further 1-day drop on Nov 23 through bearish sentiment. |
| BRENT | 2018-11-13 | 5 | -8.3% | -2.8 | Attributes the multi-week slide to surging production and global demand concerns, fundamental drivers underlying the 5-day drop, though published a day after the window end. |
| WTI | 2018-11-27 | 5 | -9.9% | -3.0 | Surging production and global growth concerns are the underlying supply and demand drivers of the multi-week decline that continued into the window. |

## Sources

- reuters.com: https://www.reuters.com/article/oil-prices-kemp/column-oil-prices-tumble-as-traders-look-beyond-iran-kemp-idUSL8N1XO62W/

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