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Crude oil prices fell sharply after the US tariff announcements, with traders worried a trade war would reduce global demand. EIA data showed crude stocks rising 6.2 million barrels against an expected draw, while distillate stocks rose 0.3 million barrels.
Demand-destruction fears from tariffs push crude lower, and the bearish EIA crude build reinforces the decline. Lower crude typically weighs on diesel and biofuel-linked feedstock values.
admis.comMark BowmanApr 3, 2025After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 56 past bearish trade events, Crude Oil (Brent) moved a median -5.6% over 5 sessions (20% higher; middle half -9.0% to -1.7%), and -4.5% over 20.
After 28 past bearish trade events, ULSD / Diesel moved a median -0.1% over 5 sessions (50% higher; middle half -5.0% to +1.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Crude collapsed after the April 2-3 US tariff announcement on trade-war demand fears, and a bigger-than-expected crude stock build added to the ULSD sell-off.
Crude collapsed on tariff fears of reduced demand, while a 6.2M barrel EIA crude stock build added bearish fundamentals.
Crude collapsed on the tariff announcement and a surprise EIA crude stock build added bearish fundamentals.
