# Oil prices are collapsing after Saudi Arabia sends ominous signal

> Oil prices fell sharply as concern grew about how much crude the fragile world economy needs. Jet fuel demand remained very weak after the US summer driving season ended. The selling was described as driven largely by demand concerns following a Saudi Arabia signal.

- Date: 2020-09-08 · published 2020-09-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/7476-oil-prices-are-collapsing-after-saudi-arabia-sends-ominous-signal
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak fuel demand and Saudi pricing signals point to lower crude prices. Lower energy costs can ease feed input expenses but reduce biofuel margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-09-08 | 1 | -6.0% | -3.6 | Same-day coverage of the collapse on demand concerns after the Saudi price-cut signal, with weak jet fuel demand. |

## Sources

- cnn.com: https://www.cnn.com/2020/09/08/investing/oil-prices-drop-saudi-arabia

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