# Focus on Fracking: oil prices see largest one-day loss in 53 months; natural gas prices fall to 38 month low; oil supplies lowest in 38 weeks

> US crude had its largest one-day loss in over four years after President Trump announced new 10% tariffs on another $300 billion of Chinese imports. Oil prices had earlier been supported by Fed rate-cut expectations and a large US inventory draw. Natural gas prices also fell to a 38-month low.

- Date: 2019-08-04 · published 2019-08-04T12:00:00.000Z
- Category: trade · region US-China · magnitude high
- Page: https://feedsoft.ai/events/7908-focus-on-fracking-oil-prices-see-largest-one-day-loss-in-53-months-natural-gas
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

New tariffs on Chinese imports threaten global demand and Chinese purchases of US farm goods, weighing on soybean and feed-grain prices. Lower crude also reduces diesel and freight costs.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-23 | [Oil Tanks On Worst Day In Six Months \| OilPrice.com](https://feedsoft.ai/events/6610-oil-tanks-on-worst-day-in-six-months-oilprice-com.md) | -4.2% | -12.5% |
| WTI | 2019-05-31 | [Crude oil prices tumble to 3-month low \| Fox Business](https://feedsoft.ai/events/9890-crude-oil-prices-tumble-to-3-month-low-fox-business.md) | -6.9% | +4.9% |
| WTI | 2019-05-31 | [Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months](https://feedsoft.ai/events/9883-oil-falls-over-3-on-fresh-trade-worries-posts-biggest-monthly-drop-in-six-months.md) | -6.9% | +4.9% |
| WTI | 2019-05-23 | [Oil plummets, on track for biggest weekly drop in 2019](https://feedsoft.ai/events/6604-oil-plummets-on-track-for-biggest-weekly-drop-in-2019.md) | -4.2% | -12.5% |
| WTI | 2025-04-04 | [Oil dives 7% to lowest in over 3 years on China's tariffs](https://feedsoft.ai/events/6315-oil-dives-7-to-lowest-in-over-3-years-on-china-s-tariffs.md) | -10.2% | -12.0% |
| NATGAS | 2019-12-05 | [Natural Gas Set To Fall Even Further \| OilPrice.com](https://feedsoft.ai/events/55768-natural-gas-set-to-fall-even-further-oilprice-com.md) | -6.3% | -13.2% |
| NATGAS | 2024-10-24 | [Natural Gas Price Relief Prospects Shrinking as LNG Startups Delayed](https://feedsoft.ai/events/28056-natural-gas-price-relief-prospects-shrinking-as-lng-startups-delayed.md) | +13.9% | +29.0% |
| NATGAS | 2020-05-13 | [Factbox: US gas markets see minimal upside from rising global LNG prices \| S&P Global](https://feedsoft.ai/events/10445-factbox-us-gas-markets-see-minimal-upside-from-rising-global-lng-prices-s-and-p.md) | +10.6% | +5.1% |

## Sources

- focusonfracking.blogspot.com: http://focusonfracking.blogspot.com/2019/08/oil-prices-see-largest-one-day-loss-in.html

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