# Weekly Energy Market Situation, February 18, 2020 - Fuels Market News

> The Feb. 18 energy outlook calls petroleum prices bearish as coronavirus weighs on demand, with the IEA projecting a first-quarter demand decline. North American crude output is near 18 million barrels a day, and ULSD faces resistance with refinery issues limiting supply.

- Date: 2020-02-19 · published 2020-02-19T12:00:00.000Z
- Category: disease · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9358-weekly-energy-market-situation-february-18-2020-fuels-market-news
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Expected demand weakness and abundant supply point to continued downward pressure on crude and diesel, lowering energy and freight costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2020-02-26 | 5 | -11.9% | -3.7 | The bearish outlook, with coronavirus demand losses and an IEA forecast of a Q1 demand decline, weighed on petroleum and distillate prices ahead of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-02-28 | [Fuels Market Watch Weekly, February 28, 2020 Edition - Fuels Market News](https://feedsoft.ai/events/9355-fuels-market-watch-weekly-february-28-2020-edition-fuels-market-news.md) | -2.6% | -61.0% |
| 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 | 2020-01-30 | [Oil Sinks to Three-Month Low as Asia Virus Spooks OPEC - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/55263-oil-sinks-to-three-month-low-as-asia-virus-spooks-opec-energy-news-top.md) | -4.6% | -11.6% |
| DIESEL | 2020-02-28 | [Fuels Market Watch Weekly, February 28, 2020 Edition - Fuels Market News](https://feedsoft.ai/events/9355-fuels-market-watch-weekly-february-28-2020-edition-fuels-market-news.md) | +0.7% | -28.6% |
| DIESEL | 2020-01-30 | [Oil Sinks to Three-Month Low as Asia Virus Spooks OPEC - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/55263-oil-sinks-to-three-month-low-as-asia-virus-spooks-opec-energy-news-top.md) | -2.6% | -12.2% |
| DIESEL | 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) | -6.3% | -6.6% |

## Sources

- fuelsmarketnews.com: https://fuelsmarketnews.com/weekly-energy-market-situation-february-18-2020/

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