# US crude falls 24%, Brent down 13% as analysts warn more to come | Coronavirus pandemic | Al Jazeera

> US crude fell 24% and Brent dropped 13.4% to $24.88, with Brent trading at its weakest since 2003. Prices have fallen more than 50% in 10 days as coronavirus shut factories and trade and OPEC and Russia failed to agree on output cuts.

- Date: 2020-03-18 · published 2020-03-18T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/7663-us-crude-falls-24-brent-down-13-as-analysts-warn-more-to-come-coronavirus
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A supply glut combined with a demand shock drives crude to multi-year lows, lowering fuel and freight costs but weakening biofuel economics that support vegetable oil and corn prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-03-18 | 1 | -18.5% | -4.2 | Same-day report of Brent falling about 13% to its weakest since 2003 on demand collapse and OPEC/Russia failure to agree cuts. |
| BRENT | 2020-03-19 | 5 | -23.0% | -4.5 | Brent fell 13.4% on Mar 18 to its weakest since 2003 amid failed OPEC/Russia output deal and virus-driven demand loss. |
| WTI | 2020-03-18 | 5 | -30.6% | -6.5 | Reports the 24% one-day crude drop and a fall of more than 50% in 10 days as factories shut and OPEC+ failed to agree on cuts. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +64.1% | -28.3% |
| WTI | 2020-06-08 | [Crude prices fall after Saudis say bye bye to bonus output cuts \| Fossil Fuels \| Al Jazeera](https://feedsoft.ai/events/52789-crude-prices-fall-after-saudis-say-bye-bye-to-bonus-output-cuts-fossil-fuels-al.md) | -8.3% | +2.6% |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |
| WTI | 2026-07-27 | [Soybeans and corn fall more than 2% as oil drops, wheat also down \| ZAWYA](https://feedsoft.ai/events/8284-soybeans-and-corn-fall-more-than-2-as-oil-drops-wheat-also-down-zawya.md) | -5.8% | -4.1% |
| WTI | 2026-05-06 | [Brent Crude Price: Oil and gas plunge after report US and Iran near deal to end war](https://feedsoft.ai/events/9582-brent-crude-price-oil-and-gas-plunge-after-report-us-and-iran-near-deal-to-end.md) | +0.0% | -5.8% |
| BRENT | 2020-03-30 | [US, Russian oil officials to meet as Brent crude hits 18-year low \| OPEC \| Al Jazeera](https://feedsoft.ai/events/54288-us-russian-oil-officials-to-meet-as-brent-crude-hits-18-year-low-opec-al-jazeera.md) | +21.9% | -26.3% |
| BRENT | 2020-06-08 | [Crude prices fall after Saudis say bye bye to bonus output cuts \| Fossil Fuels \| Al Jazeera](https://feedsoft.ai/events/52789-crude-prices-fall-after-saudis-say-bye-bye-to-bonus-output-cuts-fossil-fuels-al.md) | -7.2% | +3.3% |
| BRENT | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +21.9% | -26.3% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2020/3/18/us-crude-falls-24-brent-down-13-as-analysts-warn-more-to-come

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