# Oil settles down 1%, then drops more on hint of big U.S. crude build

> Oil settled 1% lower on Tuesday as traders worried about rising supplies, with further losses after API data showed a build in U.S. crude inventories. U.S. CPI data also raised the likelihood of less aggressive Fed rate hikes.

- Date: 2023-02-14 · published 2023-02-14T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/37489-oil-settles-down-1-then-drops-more-on-hint-of-big-u-s-crude-build
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Bigger U.S. crude stocks point to weaker energy demand relative to supply, pressuring crude and diesel costs that feed into farm input and freight prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-fall-after-additional-us-crude-reserve-release-announced-2023-02-14/

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