# Oil slumps on U.S. crude stock build, WTI touches January low

> WTI crude futures fell to their lowest level since January after U.S. crude inventories unexpectedly surged. The drop added to concerns about slowing global growth.

- Date: 2019-06-05 · published 2019-06-05T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11591-oil-slumps-on-u-s-crude-stock-build-wti-touches-january-low
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Crude price weakness lowers energy costs for feed and biofuel inputs and can reduce biofuel-linked demand for soybean oil and corn, so price direction is bearish across these energy-linked commodities.

## Read by commodity

- WTI: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/us-global-oil/oil-slumps-4-on-u-s-inventory-build-equity-rally-caps-losses-idUSKCN1T604N/?feedName=topNews&feedType=RSS

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