# Commodity Tracker: Coronavirus and commodity markets | S&P Global

> S&P Global Platts reported that Dated Brent fell about 5% in the week of January 24 to 31, while copper saw a larger decline. Several airlines suspended or reduced flights due to the coronavirus, and Platts forecast jet fuel demand could fall by 618,000 to 1 million barrels a day in February. Crude palm oil prices dropped sharply, correcting 10% in one day after a three-month rally, as China, the second-largest palm oil buyer, faced weaker demand.

- Date: 2020-02-05 · published 2020-02-05T12:00:00.000Z
- Category: disease · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7412-commodity-tracker-coronavirus-and-commodity-markets-s-and-p-global
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Projected jet fuel and energy demand losses point to bearish crude and diesel prices. The palm oil sell-off signals weaker vegetable oil demand from China, which pressures palm-based feed and food oil prices.

## Read by commodity

- BRENT: bearish ▼
- DIESEL: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2020-02-03 | 5 | -12.8% | -4.9 | Notes crude palm oil corrected 10% in one day on weaker Chinese demand, plus broader commodity and crude oil weakness that spilled over into vegetable oils. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-01-28 | [Coronavirus Fears Prompt Flight to Safety in Commodity Markets - Caixin Global](https://feedsoft.ai/events/8057-coronavirus-fears-prompt-flight-to-safety-in-commodity-markets-caixin-global.md) | -8.0% | -4.1% |
| BRENT | 2020-02-03 | [Oil hits 13-month lows as coronavirus cuts demand](https://feedsoft.ai/events/7406-oil-hits-13-month-lows-as-coronavirus-cuts-demand.md) | -6.0% | -12.2% |
| BRENT | 2020-02-04 | [Coronavirus and oil: Why crude has been hit hard](https://feedsoft.ai/events/7408-coronavirus-and-oil-why-crude-has-been-hit-hard.md) | -1.6% | -3.7% |
| BRENT | 2021-11-26 | [Oil crashes as coronavirus strain threatens demand recovery \| Oil and Gas News \| Al Jazeera](https://feedsoft.ai/events/4773-oil-crashes-as-coronavirus-strain-threatens-demand-recovery-oil-and-gas-news-al.md) | -14.7% | -6.8% |
| BRENT | 2020-01-30 | [How coronavirus, climate change and OPEC will continue to move crude oil prices](https://feedsoft.ai/events/55264-how-coronavirus-climate-change-and-opec-will-continue-to-move-crude-oil-prices.md) | -7.2% | -9.1% |
| DIESEL | 2020-02-04 | [Coronavirus and oil: Why crude has been hit hard](https://feedsoft.ai/events/7408-coronavirus-and-oil-why-crude-has-been-hit-hard.md) | +2.4% | -2.2% |
| DIESEL | 2020-01-22 | [Fueled by concerns over the ‘China virus,’ oil markets tumble - FreightWaves](https://feedsoft.ai/events/12373-fueled-by-concerns-over-the-china-virus-oil-markets-tumble-freightwaves.md) | -6.3% | -6.6% |
| DIESEL | 2020-01-30 | [Oil Sinks to Three-Month Low as Asia Virus Spooks OPEC - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/55263-oil-sinks-to-three-month-low-as-asia-virus-spooks-opec-energy-news-top.md) | -2.6% | -12.2% |

## Sources

- spglobal.com: https://www.spglobal.com/en/research-insights/market-insights/commodity-tracker-coronavirus-and-commodity-markets

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