# Oil drops nearly 4% to end the week lower, snapping four-week win streak

> Oil futures fell more than 3% on Friday, marking their biggest weekly decline since June. Brent settled at $42.66 and WTI at $39.77 per barrel. Weak US jobs growth in August and expectations that stimulus would be delayed weighed on sentiment.

- Date: 2020-09-04 · published 2020-09-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/7474-oil-drops-nearly-4-to-end-the-week-lower-snapping-four-week-win-streak
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Slower economic recovery and weaker fuel demand expectations point to softer crude prices. Lower energy costs ease input pressure but can reduce biofuel demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-09-07 | 1 | -3.9% | -4.1 | The prior Friday's selloff on weak US jobs data and delayed stimulus carried negative momentum into the following session. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-06-17 | [Oil slumps 6%, snaps seven week winning streak](https://feedsoft.ai/events/41116-oil-slumps-6-snaps-seven-week-winning-streak.md) | -8.6% | -15.8% |
| BRENT | 2023-03-16 | [Oil slumps nearly 5% to lowest in more than a year as banking fears mount](https://feedsoft.ai/events/37047-oil-slumps-nearly-5-to-lowest-in-more-than-a-year-as-banking-fears-mount.md) | +3.2% | +16.6% |
| BRENT | 2023-10-02 | [Oil tumbles 2% to 3-week low on strong dollar, profit taking](https://feedsoft.ai/events/7365-oil-tumbles-2-to-3-week-low-on-strong-dollar-profit-taking.md) | -9.8% | -5.2% |
| BRENT | 2020-10-01 | [Oil dips nearly 4% on weak demand outlook and higher OPEC output](https://feedsoft.ai/events/50818-oil-dips-nearly-4-on-weak-demand-outlook-and-higher-opec-output.md) | +1.7% | -5.3% |
| BRENT | 2024-12-19 | [Oil Notches Weekly Loss on Tariff Risk, Fed’s Slower Easing Path](https://feedsoft.ai/events/27127-oil-notches-weekly-loss-on-tariff-risk-fed-s-slower-easing-path.md) | -0.8% | +10.7% |
| WTI | 2022-06-17 | [Oil slumps 6%, snaps seven week winning streak](https://feedsoft.ai/events/41116-oil-slumps-6-snaps-seven-week-winning-streak.md) | -7.6% | -11.7% |
| WTI | 2018-10-18 | [Ringgit snaps 2-day gaining streak to end lower vs US dollar \| FMT](https://feedsoft.ai/events/62789-ringgit-snaps-2-day-gaining-streak-to-end-lower-vs-us-dollar-fmt.md) | -4.3% | -19.3% |
| WTI | 2023-03-16 | [Oil slumps nearly 5% to lowest in more than a year as banking fears mount](https://feedsoft.ai/events/37047-oil-slumps-nearly-5-to-lowest-in-more-than-a-year-as-banking-fears-mount.md) | +4.9% | +21.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/09/04/oil-markets-oil-demand-fuel-inventories.html

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