# Oil slumps 7 percent to one-year low as rout extends to 12 days

> Oil fell about 7 percent to a one-year low, extending a 12-day losing streak. Traders said the selling followed Monday's slump, which was triggered by a U.S. presidential tweet urging OPEC not to cut supply.

- Date: 2018-11-13 · published 2018-11-13T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7334-oil-slumps-7-percent-to-one-year-low-as-rout-extends-to-12-days
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A sharp crude decline lowers energy costs and reduces the appeal of biofuel feedstocks, pressuring soybean oil and corn-based ethanol margins.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2018-11-13 | 1 | -6.2% | -4.3 | Describes the same-day ~7% slump as continued selling after the presidential tweet urging OPEC not to cut supply, a sentiment and supply-expectation driver. |
| BRENT | 2018-11-13 | 5 | -8.3% | -2.8 | Describes the 12-day rout and the selling that followed Trump's tweet urging OPEC not to cut supply, a sentiment-driven supply-expectation shift within the window. |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-slumps-6-percent-as-rout-runs-to-12-days-on-supercharged-selling-idUSKCN1NI01G/?feedName=businessNews&feedType=RSS

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