# Oil Falls By Most in 6 Months as Recovery Falters - Bloomberg

> Oil fell about 7%, its largest drop since September, as vaccination efforts stalled in some parts of the world. The slowdown raised doubts about how quickly economies would recover and how fully global oil demand would rebound.

- Date: 2021-03-17 · published 2021-03-17T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7043-oil-falls-by-most-in-6-months-as-recovery-falters-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker expected fuel demand lowers crude prices, which reduces diesel and energy costs for feed production and transport but signals softer economic activity.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-04-21 | [Canadian dollar sees biggest drop in nearly 2 months as oil falls](https://feedsoft.ai/events/47853-canadian-dollar-sees-biggest-drop-in-nearly-2-months-as-oil-falls.md) | +0.7% | +4.7% |
| WTI | 2025-11-19 | [Canadian dollar falls the most in four months after key US data cancelled \| Reuters](https://feedsoft.ai/events/22180-canadian-dollar-falls-the-most-in-four-months-after-key-us-data-cancelled.md) | -5.1% | -8.5% |
| WTI | 2022-07-07 | [Oil Posts Weekly Decline as Recession Fears Muddle the Outlook - Bloomberg](https://feedsoft.ai/events/12616-oil-posts-weekly-decline-as-recession-fears-muddle-the-outlook-bloomberg.md) | -2.0% | -7.4% |
| WTI | 2021-10-21 | [Canadian dollar falls by most in three weeks as oil stumbles \| Financial Post](https://feedsoft.ai/events/44823-canadian-dollar-falls-by-most-in-three-weeks-as-oil-stumbles-financial-post.md) | -1.9% | -7.0% |
| WTI | 2024-01-02 | [Canadian dollar falls the most in 3 months, weighed by soft factory data - The Globe and Mail](https://feedsoft.ai/events/32340-canadian-dollar-falls-the-most-in-3-months-weighed-by-soft-factory-data-the.md) | -1.2% | +8.8% |
| BRENT | 2022-12-04 | [Oil falls over 3% after data raises Fed interest rate worries \| Reuters](https://feedsoft.ai/events/38137-oil-falls-over-3-after-data-raises-fed-interest-rate-worries-reuters.md) | -11.4% | -5.6% |
| BRENT | 2020-10-28 | [Oil Falls As Rise In US Crude Stocks Fans Over-Supply Fears](https://feedsoft.ai/events/50802-oil-falls-as-rise-in-us-crude-stocks-fans-over-supply-fears.md) | -3.8% | +16.8% |
| BRENT | 2020-03-09 | [South Africa Rand (ZAR USD) Hammered by Falling Oil, Sentiment - Bloomberg](https://feedsoft.ai/events/54415-south-africa-rand-zar-usd-hammered-by-falling-oil-sentiment-bloomberg.md) | -27.3% | -36.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2021-03-17/oil-holds-below-65-after-capping-the-worst-run-in-six-months

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