# Crude Ends Week Lower After Largest Dip in More Than Four Years - Bloomberg

> New York crude futures rebounded 3.2% on Friday after a 7.9% slump on Thursday, the worst one-day selloff in four years. The drop followed President Trump's threat to impose new tariffs on $300 billion of Chinese goods. Oil finished the week lower despite a strong U.S. jobs report.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/8493-crude-ends-week-lower-after-largest-dip-in-more-than-four-years-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Tariff threats on China reduce expectations for global oil demand and Chinese purchases of U.S. farm goods. Sustained trade tension would keep crude and soybean prices under pressure.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-11 | [Crude Crumbles Under Trade War That Imperils Economic Growth - Bloomberg](https://feedsoft.ai/events/10094-crude-crumbles-under-trade-war-that-imperils-economic-growth-bloomberg.md) | -8.2% | -6.7% |
| WTI | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | +0.9% | +9.0% |
| 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% |
| WTI | 2019-08-01 | [Oil plunges, down more than 6% after Trump adds tariffs on China](https://feedsoft.ai/events/8495-oil-plunges-down-more-than-6-after-trump-adds-tariffs-on-china.md) | -12.7% | -4.7% |
| WTI | 2017-10-31 | [Oil approaches 2-year highs but US export increase looms crude exports \| The National](https://feedsoft.ai/events/68150-oil-approaches-2-year-highs-but-us-export-increase-looms-crude-exports-the.md) | +5.9% | +7.1% |
| BRENT | 2018-07-11 | [Crude Crumbles Under Trade War That Imperils Economic Growth - Bloomberg](https://feedsoft.ai/events/10094-crude-crumbles-under-trade-war-that-imperils-economic-growth-bloomberg.md) | -8.7% | -6.2% |
| BRENT | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | -2.9% | +2.1% |
| BRENT | 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) | -9.8% | -13.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2019-08-01/oil-holds-losses-after-trump-raises-the-stakes-in-trade-war

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