# Oil Falls As US-China Trade War, Demand Make 'Recipe for Disaster' - Business Insider

> Oil prices fell more than 5% on Thursday, putting them on track for their biggest weekly drop of the year. The decline followed weak US manufacturing data, rising shale output, softer refinery demand, and concerns that the US-China trade war would hurt global economic demand.

- Date: 2019-05-24 · published 2019-05-24T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9797-oil-falls-as-us-china-trade-war-demand-make-recipe-for-disaster-business-insider
- 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

Weak manufacturing data and trade-war concerns reduce expected energy and industrial demand, pressuring crude and fuel prices. Lower energy costs also weigh on biofuel margins and related feed inputs.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-05-23 | 1 | -5.0% | -3.5 | Attributes the over 5% Thursday fall to weak manufacturing data, shale output growth and trade-war demand concerns. |
| DIESEL | 2019-06-02 | 5 | -8.4% | -3.0 | Oil fell over 5% on trade-war and weak demand worries (biggest weekly drop of the year), a sentiment and demand shock that dragged diesel futures lower. |
| WTI | 2019-05-22 | 1 | -3.6% | -4.6 | Cites weak US manufacturing, rising shale output and trade-war demand worries as drivers of the drop of more than 5%. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -1.2% | +12.6% |
| WTI | 2020-08-20 | [Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder](https://feedsoft.ai/events/51783-oil-falls-on-opec-oversupply-us-jobless-data-markets-business-recorder.md) | +0.8% | -4.5% |
| WTI | 2023-05-11 | [Oil falls 2% on weak US and Chinese economic data \| Reuters](https://feedsoft.ai/events/36104-oil-falls-2-on-weak-us-and-chinese-economic-data-reuters.md) | +0.4% | -1.7% |
| WTI | 2024-10-13 | [Oil falls 2% as OPEC cuts oil demand growth view, China concerns](https://feedsoft.ai/events/28026-oil-falls-2-as-opec-cuts-oil-demand-growth-view-china-concerns.md) | -8.3% | -7.0% |
| WTI | 2022-11-28 | [C$ hits one-week low as China protests rattle investors - Markets - Business Recorder](https://feedsoft.ai/events/38912-c-hits-one-week-low-as-china-protests-rattle-investors-markets-business-recorder.md) | +4.6% | +4.2% |
| BRENT | 2023-08-21 | [Crude oil settles lower as hope fades for Chinese demand](https://feedsoft.ai/events/34761-crude-oil-settles-lower-as-hope-fades-for-chinese-demand.md) | -0.5% | +11.0% |
| BRENT | 2020-08-20 | [Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder](https://feedsoft.ai/events/51783-oil-falls-on-opec-oversupply-us-jobless-data-markets-business-recorder.md) | +0.9% | -7.9% |
| BRENT | 2023-05-11 | [Oil falls 2% on weak US and Chinese economic data \| Reuters](https://feedsoft.ai/events/36104-oil-falls-2-on-weak-us-and-chinese-economic-data-reuters.md) | +0.5% | -0.8% |

## Sources

- businessinsider.com: https://www.businessinsider.com/oil-falls-china-trade-war-demand-make-recipe-for-disaster-2019-5

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