# Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build

> Oil slid about 4% to near six-month lows after US data showed crude and gasoline inventories unexpectedly rose the prior week. OPEC+ also agreed to raise its output target by 100,000 barrels per day.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/12796-oil-falls-to-nearly-6-month-lows-after-surprise-u-s-crude-gasoline-build
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A surprise stockpile build signals softer US demand and ample supply, which pressures crude prices and the energy input costs behind feed production and transport.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-11-27 | [Oil falls after surprise US inventory build - Profit by Pakistan Today](https://feedsoft.ai/events/56231-oil-falls-after-surprise-us-inventory-build-profit-by-pakistan-today.md) | +0.3% | +4.9% |
| WTI | 2020-09-02 | [Oil drops 3% to one-month low on weak U.S. gasoline demand](https://feedsoft.ai/events/10228-oil-drops-3-to-one-month-low-on-weak-u-s-gasoline-demand.md) | -11.0% | -6.2% |
| WTI | 2019-05-30 | [Oil falls to 2-month lows on small US crude stock draw, trade war worries \| Fox Business](https://feedsoft.ai/events/9889-oil-falls-to-2-month-lows-on-small-us-crude-stock-draw-trade-war-worries-fox.md) | -12.3% | +0.7% |
| WTI | 2017-03-08 | [Oil falls to near 2 month lows amid fresh stockpile worries](https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries.md) | -10.3% | -3.5% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-falls-demand-worries-stronger-us-dollar-2022-08-03/

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