# Oil ends at lowest in over a year; U.S. prices drop under $50 a barrel - MarketWatch

> US oil futures finished lower on Tuesday, with prices below $50 a barrel for the first time in more than a year, and entered a bear market. OPEC and its allies were considering further production cuts of 500,000 to 1 million barrels a day as demand fears weighed on the market.

- Date: 2020-02-04 · published 2020-02-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/7411-oil-ends-at-lowest-in-over-a-year-u-s-prices-drop-under-50-a-barrel-marketwatch
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Demand weakness from the coronavirus outbreak, combined with possible OPEC+ output cuts, leaves crude and diesel prices under pressure with direction hinging on the size of the cut. Energy price weakness also affects biofuel feedstock economics.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-02-04 | 5 | -9.3% | -2.8 | Feb 4 close at lowest in over a year with WTI under $50 and bear market confirmed, capturing the end of the move. |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-positioned-for-modest-price-rebound-a-day-after-entering-bear-market-2020-02-04

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