# Oil prices settle at lowest since June, with Brent prices below $40 - MarketWatch

> Oil futures fell to their lowest settlement since June as WTI for October delivery dropped 7.6% to $36.76 a barrel and November Brent lost 5.3% to $39.78. Worries about crude demand from rising global coronavirus cases, the end of the U.S. summer driving season, and a report that Saudi Arabia will cut October prices weighed on the market.

- Date: 2020-09-08 · published 2020-09-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/9465-oil-prices-settle-at-lowest-since-june-with-brent-prices-below-40-marketwatch
- 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

Weaker crude demand and lower Saudi official prices reduce the energy-cost floor and feed-substitution economics, pointing to softer prices across energy-linked feed inputs. The move reflects demand destruction rather than supply tightness.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-09-08 | 1 | -6.0% | -3.6 | Describes the Sept 8 settlement itself, with Brent down 5.3% to $39.78 on demand worries, the end of the US driving season and the Saudi price cut. |
| DIESEL | 2020-09-08 | 1 | -6.0% | -3.4 | Crude futures fell sharply on 2020-09-08 (WTI -7.6%, Brent -5.3%) on demand worries and an expected Saudi price cut, directly dragging ULSD futures lower the same day. |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-down-sharply-as-us-driving-season-comes-to-end-2020-09-08

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