# Fuels Market Watch Weekly, February 28, 2020 Edition - Fuels Market News

> Oil prices fell sharply in the week to Feb. 28 as the coronavirus, renamed SARS-CoV-2, spread beyond China and raised fears of a pandemic. WTI futures dropped about 13.5% for the week to around $46 a barrel, and major U.S. stock indices entered correction territory.

- Date: 2020-02-28 · published 2020-02-28T12:00:00.000Z
- Category: disease · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9355-fuels-market-watch-weekly-february-28-2020-edition-fuels-market-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Falling crude and fuel prices and weaker global growth expectations point to lower energy input costs for feed producers, though the pullback also signals softer demand for energy-linked commodities.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2020-02-26 | 5 | -11.9% | -3.7 | WTI dropped about 13.5% over the week on coronavirus pandemic fears, which pulled ULSD futures down through input-cost and risk-off sentiment. |
| BRENT | 2020-02-28 | 5 | -13.0% | -4.1 | Weekly summary tying the oil drop to pandemic fears and equity correction, a risk-off backdrop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-02-19 | [Weekly Energy Market Situation, February 18, 2020 - Fuels Market News](https://feedsoft.ai/events/9358-weekly-energy-market-situation-february-18-2020-fuels-market-news.md) | -4.3% | -48.2% |
| WTI | 2020-02-28 | [Cattle Current Weekly Highlights—Week ending Feb. 28, 2020 – Cattle Current Market Update](https://feedsoft.ai/events/12518-cattle-current-weekly-highlights-week-ending-feb-28-2020-cattle-current-market.md) | -2.6% | -61.0% |
| WTI | 2020-01-29 | [Outside news affects market price swing - Farm and Dairy](https://feedsoft.ai/events/55099-outside-news-affects-market-price-swing-farm-and-dairy.md) | -7.1% | -8.8% |
| WTI | 2021-12-01 | [November 2021 Market Letter - IASG](https://feedsoft.ai/events/11597-november-2021-market-letter-iasg.md) | +8.8% | +15.8% |
| WTI | 2020-01-22 | [Fueled by concerns over the ‘China virus,’ oil markets tumble - FreightWaves](https://feedsoft.ai/events/12373-fueled-by-concerns-over-the-china-virus-oil-markets-tumble-freightwaves.md) | -8.4% | -8.5% |
| BRENT | 2021-12-01 | [November 2021 Market Letter - IASG](https://feedsoft.ai/events/11597-november-2021-market-letter-iasg.md) | +6.8% | +9.0% |
| BRENT | 2020-02-26 | [Why have wheat prices taken a turn for the worse? Grain Market Daily \| AHDB](https://feedsoft.ai/events/54640-why-have-wheat-prices-taken-a-turn-for-the-worse-grain-market-daily-ahdb.md) | -5.6% | -53.2% |
| BRENT | 2020-01-22 | [Fueled by concerns over the ‘China virus,’ oil markets tumble - FreightWaves](https://feedsoft.ai/events/12373-fueled-by-concerns-over-the-china-virus-oil-markets-tumble-freightwaves.md) | -7.3% | -10.3% |

## Sources

- fuelsmarketnews.com: https://fuelsmarketnews.com/fuels-market-watch-weekly-february-28-2020-edition/

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