# U.S. oil prices enter a bear market as weekly domestic crude supplies jump to a nearly 2-year high - MarketWatch

> U.S. oil futures entered a bear market, with WTI July settling at $51.68 a barrel, down 3.4% and 22% below its April high. Weekly U.S. crude supplies rose almost 7 million barrels to their highest since July 2017.

- Date: 2019-06-05 · published 2019-06-05T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/11592-u-s-oil-prices-enter-a-bear-market-as-weekly-domestic-crude-supplies-jump-to-a
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A large inventory build signals weak near-term crude demand relative to supply, pressuring energy prices that feed into diesel and biofuel economics for feed-related commodities.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-09 | [Oil price falls below $50 as U.S. supplies hit record](https://feedsoft.ai/events/8368-oil-price-falls-below-50-as-u-s-supplies-hit-record.md) | -2.9% | +2.3% |
| WTI | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -6.6% | -3.7% |
| WTI | 2022-08-03 | [Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build](https://feedsoft.ai/events/12796-oil-falls-to-nearly-6-month-lows-after-surprise-u-s-crude-gasoline-build.md) | -4.1% | -4.5% |
| WTI | 2019-06-03 | [Diesel Drops 1.5¢ to $3.136; Oil Close to Bear Market Price - TT](https://feedsoft.ai/events/10747-diesel-drops-1-5-to-3-136-oil-close-to-bear-market-price-tt.md) | +0.9% | +9.0% |
| WTI | 2018-08-15 | [Oil prices sink after big, unexpected jump in US crude stockpiles](https://feedsoft.ai/events/63706-oil-prices-sink-after-big-unexpected-jump-in-us-crude-stockpiles.md) | +0.4% | +5.0% |
| DIESEL | 2019-06-03 | [Diesel Drops 1.5¢ to $3.136; Oil Close to Bear Market Price - TT](https://feedsoft.ai/events/10747-diesel-drops-1-5-to-3-136-oil-close-to-bear-market-price-tt.md) | -0.9% | +5.4% |
| DIESEL | 2019-06-04 | [Oil Sinks Into Bear Market as U.S. Storage Jumps Most Since 1990 - Bloomberg](https://feedsoft.ai/events/11306-oil-sinks-into-bear-market-as-u-s-storage-jumps-most-since-1990-bloomberg.md) | +0.0% | +8.2% |
| DIESEL | 2017-06-27 | [EIA Gasoline and Diesel Retail Prices Update (Week Ended June 26, 2017) - Fuels Market News](https://feedsoft.ai/events/70696-eia-gasoline-and-diesel-retail-prices-update-week-ended-june-26-2017-fuels.md) | +8.3% | +13.7% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-falls-on-indications-for-us-supply-build-draws-closer-to-bear-territory-2019-06-05

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