# Oil prices fall as US stock market slumps and dollar strengthens

> WTI settled down 35 cents at $65.45 a barrel on February 1, 2018, as the dollar strengthened after a strong U.S. jobs report. Equities also slumped on concerns about rising interest rates.

- Date: 2018-02-02 · published 2018-02-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar makes dollar-priced commodities more expensive for other currency holders, which weighs on grain and oilseed demand. Lower crude also reduces biofuel feedstock support.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2023-05-30 | [Canadian dollar dips as oil prices fall more than 4%](https://feedsoft.ai/events/36186-canadian-dollar-dips-as-oil-prices-fall-more-than-4.md) | -0.4% | -6.6% |
| WTI | 2020-01-24 | [Canadian dollar slips as oil prices fall on China virus scare](https://feedsoft.ai/events/55301-canadian-dollar-slips-as-oil-prices-fall-on-china-virus-scare.md) | -6.1% | -3.9% |
| WTI | 2020-01-29 | [Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail.md) | -7.1% | -8.8% |
| WTI | 2026-05-29 | [BRL Strengthens Slightly on Strong GDP and Easing Oil Prices](https://feedsoft.ai/events/19461-brl-strengthens-slightly-on-strong-gdp-and-easing-oil-prices.md) | +4.6% | -23.5% |
| BRENT | 2026-05-29 | [BRL Strengthens Slightly on Strong GDP and Easing Oil Prices](https://feedsoft.ai/events/19461-brl-strengthens-slightly-on-strong-gdp-and-easing-oil-prices.md) | +2.5% | -21.2% |
| BRENT | 2026-09-18 | [Ringgit opens higher against US dollar as oil prices ease \| The Star](https://feedsoft.ai/events/17729-ringgit-opens-higher-against-us-dollar-as-oil-prices-ease-the-star.md) | -0.3% | +5.0% |
| BRENT | 2018-12-20 | [Oil plunges nearly 5 percent to 17-month low as stock market slumps](https://feedsoft.ai/events/8704-oil-plunges-nearly-5-percent-to-17-month-low-as-stock-market-slumps.md) | -8.1% | +10.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/02/01/us-oil-prices-extend-gains-on-compliance-with-output-cuts.html

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