# Oil prices dip as inventory builds

> The EIA reported a 2.0 million barrel rise in US crude inventories for the week, against an expected draw of 1.3 million barrels. WTI settled down 2% at $37.30 and Brent fell to $40.54, with gasoline and distillate demand also weak.

- Date: 2020-09-10 · published 2020-09-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A surprise crude stock build and weak fuel demand confirm bearish supply-demand balances, pushing crude and diesel prices lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-10-30 | [Oil prices extend fall after surprise inventory build(Update) \| The Star](https://feedsoft.ai/events/56743-oil-prices-extend-fall-after-surprise-inventory-build-update-the-star.md) | +3.1% | +5.2% |
| WTI | 2018-02-07 | [Oil hits one-month low after U.S. inventory build](https://feedsoft.ai/events/11359-oil-hits-one-month-low-after-u-s-inventory-build.md) | -6.6% | -3.7% |
| WTI | 2017-05-03 | [U.S. oil inventories dip, but gasoline builds amid weak demand: EIA By Reuters](https://feedsoft.ai/events/10016-u-s-oil-inventories-dip-but-gasoline-builds-amid-weak-demand-eia-by-reuters.md) | -3.8% | +1.4% |
| WTI | 2020-04-15 | [Oil drops on record inventory build, supply concerns](https://feedsoft.ai/events/4484-oil-drops-on-record-inventory-build-supply-concerns.md) | -32.0% | +25.9% |
| WTI | 2019-10-01 | [Oil slides 2.5% as US inventories build, weak economic data weighs](https://feedsoft.ai/events/56752-oil-slides-2-5-as-us-inventories-build-weak-economic-data-weighs.md) | -2.5% | +2.9% |
| BRENT | 2019-10-30 | [Oil prices extend fall after surprise inventory build(Update) \| The Star](https://feedsoft.ai/events/56743-oil-prices-extend-fall-after-surprise-inventory-build-update-the-star.md) | +2.5% | +5.3% |
| BRENT | 2018-02-07 | [Oil hits one-month low after U.S. inventory build](https://feedsoft.ai/events/11359-oil-hits-one-month-low-after-u-s-inventory-build.md) | -6.7% | -1.6% |
| BRENT | 2017-05-03 | [U.S. oil inventories dip, but gasoline builds amid weak demand: EIA By Reuters](https://feedsoft.ai/events/10016-u-s-oil-inventories-dip-but-gasoline-builds-amid-weak-demand-eia-by-reuters.md) | -4.0% | +2.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/09/10/oil-markets-coronavirus-pandemic.html

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