# Oil In Retreat On Renewed US Supply Fears - Sharecafe

> WTI fell almost 10% in the week to February 9, 2018, closing below $60 for the first time that year, as surging U.S. production raised supply fears. Oil futures had their biggest weekly slide since January 2016.

- Date: 2018-02-11 · published 2018-02-11T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/66664-oil-in-retreat-on-renewed-us-supply-fears-sharecafe
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sharp crude declines lower diesel and biofuel margins, which can pressure soybean oil and palm oil. Continued U.S. supply growth could push prices toward the $50s.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- sharecafe.com.au: https://www.sharecafe.com.au/2018/02/12/oil-in-retreat-on-renewed-us-supply-fears/

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