# Brent oil structure, physical markets reflect fears of supply glut | Reuters

> Brent and WTI spot structures weakened as traders priced in a possible supply glut. Analysts pointed to OPEC+ raising output faster and steady production from the US and other non-OPEC+ producers. The article describes the shift in market structure.

- Date: 2025-10-20 · published 2025-10-20T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/22585-brent-oil-structure-physical-markets-reflect-fears-of-supply-glut-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A growing supply surplus pushes crude prices lower, which weakens the cost case for biofuel feedstocks and reduces diesel and fertilizer input costs over time. Lower energy prices also reduce ethanol and biodiesel margins that support corn and vegetable oil demand.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-18 | [Oil slides 2%, posts second weekly decline as supply fears recede \| Reuters](https://feedsoft.ai/events/38868-oil-slides-2-posts-second-weekly-decline-as-supply-fears-recede-reuters.md) | -6.5% | -9.1% |
| WTI | 2021-05-20 | [Stocks struggle as taper talk, crypto crash put markets on edge \| Reuters](https://feedsoft.ai/events/47008-stocks-struggle-as-taper-talk-crypto-crash-put-markets-on-edge-reuters.md) | +4.8% | +12.2% |
| WTI | 2020-04-27 | [U.S. oil plunges 25%, Brent falls below $20 a barrel \| Reuters](https://feedsoft.ai/events/53810-u-s-oil-plunges-25-brent-falls-below-20-a-barrel-reuters.md) | +21.1% | +105.0% |
| WTI | 2026-02-02 | [Slump in commodities rattles global markets \| Reuters](https://feedsoft.ai/events/20505-slump-in-commodities-rattles-global-markets-reuters.md) | -1.6% | +9.9% |
| WTI | 2020-08-20 | [Oil falls on OPEC+ oversupply, US jobless data - Markets - Business Recorder](https://feedsoft.ai/events/51783-oil-falls-on-opec-oversupply-us-jobless-data-markets-business-recorder.md) | +0.8% | -4.5% |
| BRENT | 2020-04-21 | [Brent oil futures plunge as growing glut feeds market panic](https://feedsoft.ai/events/4477-brent-oil-futures-plunge-as-growing-glut-feeds-market-panic.md) | -17.3% | +61.6% |
| BRENT | 2022-11-18 | [Oil slides 2%, posts second weekly decline as supply fears recede \| Reuters](https://feedsoft.ai/events/38868-oil-slides-2-posts-second-weekly-decline-as-supply-fears-recede-reuters.md) | -5.4% | -9.5% |
| BRENT | 2020-04-27 | [U.S. oil plunges 25%, Brent falls below $20 a barrel \| Reuters](https://feedsoft.ai/events/53810-u-s-oil-plunges-25-brent-falls-below-20-a-barrel-reuters.md) | +19.9% | +86.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/brent-oil-structure-physical-markets-reflect-fears-supply-glut-2025-10-20/

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