# Oil extends losses despite IEA warning of spare capacity limits

> Oil prices fell on Thursday, extending the previous session's losses as Libyan exports resumed. The move came despite an IEA warning that the world's oil supply cushion might be stretched to its limit. Brent fell 30 cents to $73.10 and US crude fell 88 cents to $69.50.

- Date: 2018-07-12 · published 2018-07-12T12:00:00.000Z
- Category: geopolitics · region Libya · magnitude medium
- Page: https://feedsoft.ai/events/10096-oil-extends-losses-despite-iea-warning-of-spare-capacity-limits
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Returning Libyan supply is outweighing IEA warnings about thin spare capacity, which keeps crude under pressure. Lower energy prices reduce the cost pressure on biofuel and related feed inputs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-10-01 | [CPO Futures Extend Losses Amid Weaker Crude Oil Prices](https://feedsoft.ai/events/9799-cpo-futures-extend-losses-amid-weaker-crude-oil-prices.md) | -2.3% | +8.7% |
| WTI | 2025-06-24 | [Arab News \| Oil Updates — crude extends losses on lower Middle East supply risk](https://feedsoft.ai/events/10002-arab-news-oil-updates-crude-extends-losses-on-lower-middle-east-supply-risk.md) | -4.6% | -1.6% |
| WTI | 2018-11-03 | [Why oil prices are plunging despite U.S. sanctions on Iran’s energy sector - MarketWatch](https://feedsoft.ai/events/9155-why-oil-prices-are-plunging-despite-u-s-sanctions-on-iran-s-energy-sector.md) | -4.7% | -16.1% |
| WTI | 2018-10-17 | [Saudi Aramco adds 3 million bpd oil export capacity on West coast \| The National](https://feedsoft.ai/events/62427-saudi-aramco-adds-3-million-bpd-oil-export-capacity-on-west-coast-the-national.md) | -7.6% | -22.6% |
| WTI | 2026-04-10 | [Oil ends lower ahead of U.S.-Iran ceasefire talks, posts steepest weekly loss since 2022 \| Reuters](https://feedsoft.ai/events/6898-oil-ends-lower-ahead-of-u-s-iran-ceasefire-talks-posts-steepest-weekly-loss.md) | -3.2% | -1.9% |
| BRENT | 2026-10-01 | [CPO Futures Extend Losses Amid Weaker Crude Oil Prices](https://feedsoft.ai/events/9799-cpo-futures-extend-losses-amid-weaker-crude-oil-prices.md) | +2.6% | +8.8% |
| BRENT | 2025-06-24 | [Arab News \| Oil Updates — crude extends losses on lower Middle East supply risk](https://feedsoft.ai/events/10002-arab-news-oil-updates-crude-extends-losses-on-lower-middle-east-supply-risk.md) | -6.9% | -3.2% |
| BRENT | 2018-10-17 | [Saudi Aramco adds 3 million bpd oil export capacity on West coast \| The National](https://feedsoft.ai/events/62427-saudi-aramco-adds-3-million-bpd-oil-export-capacity-on-west-coast-the-national.md) | -4.2% | -19.2% |

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/oil-extends-losses-despite-iea-warning-of-spare-capacity-limits-118071201208_1.html

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