# Oil falls for fifth day on demand concerns as coronavirus spreads

> Oil fell for a fifth straight day on Thursday to its lowest since January 2019, with Brent down 2.8% near $51.96 and WTI down 2.7% near $47.38. Brent and WTI had lost about 10% over five sessions, their largest such losses since August 2019.

- Date: 2020-02-25 · published 2020-02-25T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7111-oil-falls-for-fifth-day-on-demand-concerns-as-coronavirus-spreads
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Consultants cut 2020 oil demand growth to practically zero because of the outbreak, signaling weaker global economic activity and lower energy costs that can ease feed transport and processing expenses.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-02-27 | 5 | -12.4% | -3.2 | Describes a fifth straight daily decline with Brent and WTI losing about 10% over five sessions on virus-driven demand concerns, matching the window and magnitude. |
| BRENT | 2020-02-28 | 5 | -13.0% | -4.1 | Documents five straight daily declines and ~10% losses for Brent and WTI, the largest since Aug 2019, on demand worries. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -4.0% | +0.9% |
| WTI | 2024-10-13 | [Oil falls 2% as OPEC cuts oil demand growth view, China concerns](https://feedsoft.ai/events/28026-oil-falls-2-as-opec-cuts-oil-demand-growth-view-china-concerns.md) | -8.3% | -7.0% |
| WTI | 2023-12-12 | [Oil falls more than 3% on softening demand, oversupply concerns \| Reuters](https://feedsoft.ai/events/32904-oil-falls-more-than-3-on-softening-demand-oversupply-concerns-reuters.md) | +1.7% | +0.6% |
| WTI | 2020-05-07 | [As demand for fuel falls, gas prices and output also take a hit \| Coronavirus pandemic \| Al Jazeera](https://feedsoft.ai/events/10440-as-demand-for-fuel-falls-gas-prices-and-output-also-take-a-hit-coronavirus.md) | +6.0% | +56.4% |
| WTI | 2020-01-27 | [Stocks and Oil Drop, Gold Rises As Wuhan Coronavirus Spreads - Markets Insider](https://feedsoft.ai/events/4514-stocks-and-oil-drop-gold-rises-as-wuhan-coronavirus-spreads-markets-insider.md) | -4.7% | -5.1% |
| BRENT | 2020-09-25 | [Oil prices down for the week on new coronavirus concerns](https://feedsoft.ai/events/51290-oil-prices-down-for-the-week-on-new-coronavirus-concerns.md) | -3.0% | +0.7% |
| BRENT | 2024-10-13 | [Oil falls 2% as OPEC cuts oil demand growth view, China concerns](https://feedsoft.ai/events/28026-oil-falls-2-as-opec-cuts-oil-demand-growth-view-china-concerns.md) | -8.5% | -7.2% |
| BRENT | 2023-12-12 | [Oil falls more than 3% on softening demand, oversupply concerns \| Reuters](https://feedsoft.ai/events/32904-oil-falls-more-than-3-on-softening-demand-oversupply-concerns-reuters.md) | +3.3% | +2.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/02/27/oil-markets-coronavirus-spread-in-focus.html
- reuters.com: https://www.reuters.com/article/world/oil-sinks-4-on-demand-concerns-as-coronavirus-spreads-idUSKCN20I05M/

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