# Market Summary: July 18, 2021 | news.cqg.com

> Petroleum prices fell for a second straight week, with WTI down 3.7% and Brent down 2.6%. Weak refined product demand after the July 4 holiday, COVID-19 Delta concerns and uncertainty over the OPEC+ agreement weighed on prices.

- Date: 2021-07-18 · published 2021-07-18T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6953-market-summary-july-18-2021-news-cqg-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Softer demand signals and OPEC+ uncertainty point to lower crude prices, which reduce input costs for energy and transport across the feed chain.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-07-19 | 1 | -6.9% | -5.1 | Weekend summary of weak product demand, Delta concerns and OPEC+ uncertainty gives the backdrop that set up Monday's selloff. |

## Sources

- news.cqg.com: https://news.cqg.com/blogs/commentary/2021/07/market-summary-july-18-2021

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