# Oil falls for fourth week; U.S. crude posts steepest weekly loss since 1991 | Reuters

> US crude posted a 29% weekly loss, its steepest since 1991, marking a fourth straight weekly decline. Brent fell about 40% over the same two-week period as the pandemic cut demand and OPEC output cuts collapsed.

- Date: 2020-03-20 · published 2020-03-20T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/7662-oil-falls-for-fourth-week-u-s-crude-posts-steepest-weekly-loss-since-1991
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A collapse in coordinated OPEC output cuts combined with demand losses keeps crude prices under pressure, weakening biofuel and energy-linked demand for agricultural products.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-03-20 | 1 | -15.5% | -3.6 | Reuters wrap of the 20 March session: US crude posted its steepest weekly loss since 1991 as the pandemic cut demand and OPEC+ supply cuts collapsed. |

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-extends-recovery-as-trump-hints-at-intervening-in-saudi-russia-price-war-idUSKBN21709H/?stream=top

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