# Energy View: Friday May 31 – GasBuddy

> WTI fell $2.22 to $56.59 and Dated Brent lost $2.58 to $66.87 after a bearish EIA inventory report and renewed U.S.-China trade concerns. Gasoline and diesel also declined, with Pacific Northwest prices dropping 17 cents a gallon. Pump prices were trending lower.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10408-energy-view-friday-may-31-gasbuddy
- 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

Crude and refined product weakness lowers diesel and energy costs for feed producers and transporters. Trade-driven selling indicates risk-off sentiment that could persist if tensions continue.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-06-03 | 5 | -10.4% | -2.9 | On May 31 Dated Brent lost $2.58 after a bearish EIA inventory report and renewed trade concerns. |
| DIESEL | 2019-06-02 | 5 | -8.4% | -3.0 | May 31 crude drop of $2.22 on a bearish EIA inventory report and trade concerns, with diesel also declining. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-31 | [Stock Up on Avocados – Mexico Tariffs Announced by Trump - Mansfield Energy](https://feedsoft.ai/events/10410-stock-up-on-avocados-mexico-tariffs-announced-by-trump-mansfield-energy.md) | -6.9% | +4.9% |
| WTI | 2019-08-04 | [Focus on Fracking: oil prices see largest one-day loss in 53 months; natural gas prices fall to 38 month low; oil supplies lowest in 38 weeks](https://feedsoft.ai/events/7908-focus-on-fracking-oil-prices-see-largest-one-day-loss-in-53-months-natural-gas.md) | -2.2% | -1.1% |
| WTI | 2019-06-07 | [Fuels Market Watch Weekly, June 7th Edition - Crude, Gas, Diesel Forward Prices](https://feedsoft.ai/events/10750-fuels-market-watch-weekly-june-7th-edition-crude-gas-diesel-forward-prices.md) | -0.5% | +8.8% |
| WTI | 2019-05-23 | [Oil Falls Below $60 on Rising U.S. Inventories and Trade Tension - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/6608-oil-falls-below-60-on-rising-u-s-inventories-and-trade-tension-energy-news-top.md) | -4.2% | -12.5% |
| WTI | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | -2.1% | -1.6% |
| BRENT | 2019-05-23 | [Oil Falls Below $60 on Rising U.S. Inventories and Trade Tension - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/6608-oil-falls-below-60-on-rising-u-s-inventories-and-trade-tension-energy-news-top.md) | -4.6% | -9.1% |
| BRENT | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | -3.6% | -3.6% |
| BRENT | 2019-08-05 | [Trade war fears send shudder through stock markets](https://feedsoft.ai/events/8382-trade-war-fears-send-shudder-through-stock-markets.md) | -5.8% | -1.3% |

## Sources

- gasbuddy.com: https://www.gasbuddy.com/go/energy-view-may-31-2019

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