# U.S. oil prices up after sharp drop in fuel stocks | Reuters

> US oil prices rose modestly on Wednesday after a sharp drop the previous day. The Energy Department reported gasoline stocks fell 4.8 million barrels to the lowest since December 2017, and distillates fell 2.3 million barrels, both more than forecast.

- Date: 2018-10-24 · published 2018-10-24T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/12172-u-s-oil-prices-up-after-sharp-drop-in-fuel-stocks-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A larger-than-expected drawdown in distillates tightens diesel supply, supporting fuel prices and freight costs for feed and grain shipping, though worries about global demand cap gains.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-09-28 | [Oil prices rise on surprise drop in U.S. crude, fuel stocks](https://feedsoft.ai/events/39763-oil-prices-rise-on-surprise-drop-in-u-s-crude-fuel-stocks.md) | +10.1% | +9.3% |
| WTI | 2026-09-09 | [US EIA hikes oil price forecasts as Iran war drains global stockpile By Reuters](https://feedsoft.ai/events/17665-us-eia-hikes-oil-price-forecasts-as-iran-war-drains-global-stockpile-by-reuters.md) | +13.7% | +0.1% |
| WTI | 2025-02-26 | [US crude stockpiles fall as refining picks up, fuel inventories build, EIA says \| Reuters](https://feedsoft.ai/events/26245-us-crude-stockpiles-fall-as-refining-picks-up-fuel-inventories-build-eia-says.md) | -1.0% | +0.4% |
| WTI | 2018-08-22 | [Oil surges after data shows steep drop in US crude inventories](https://feedsoft.ai/events/63703-oil-surges-after-data-shows-steep-drop-in-us-crude-inventories.md) | +1.8% | +5.6% |
| WTI | 2021-07-21 | [Oil climbs over 4% despite rise in U.S. inventories \| Reuters](https://feedsoft.ai/events/6367-oil-climbs-over-4-despite-rise-in-u-s-inventories-reuters.md) | +6.4% | -1.2% |
| DIESEL | 2022-09-28 | [Oil prices rise on surprise drop in U.S. crude, fuel stocks](https://feedsoft.ai/events/39763-oil-prices-rise-on-surprise-drop-in-u-s-crude-fuel-stocks.md) | +10.2% | +25.9% |
| DIESEL | 2018-10-25 | [US crude stocks rise as fuel inventories draw down](https://feedsoft.ai/events/12177-us-crude-stocks-rise-as-fuel-inventories-draw-down.md) | +0.5% | -12.1% |
| DIESEL | 2023-02-02 | [U.S. diesel stocks start the year critically low \| Reuters](https://feedsoft.ai/events/37501-u-s-diesel-stocks-start-the-year-critically-low-reuters.md) | -2.7% | -3.7% |

## Sources

- reuters.com: https://www.reuters.com/article/business/us-oil-prices-up-after-sharp-drop-in-fuel-stocks-idUSKCN1MY01Z/

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