# Oil prices rise on surprise drop in U.S. crude, fuel stocks

> Oil rose on Sept 27 after US crude stocks fell by 215,000 barrels, with gasoline and distillate inventories down 2.4 million and 2.9 million barrels. Brent gained 3.5% to $89.32 and WTI rose 4.65% to $82.15, with about 190,000 bpd of Gulf output shut in by Hurricane Ian.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/39763-oil-prices-rise-on-surprise-drop-in-u-s-crude-fuel-stocks
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Unexpected inventory draws and hurricane outages tighten near-term fuel supply, supporting crude and diesel costs. A stronger dollar partly offset the gain by reducing demand from non-dollar buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-10-24 | [U.S. oil prices up after sharp drop in fuel stocks \| Reuters](https://feedsoft.ai/events/12172-u-s-oil-prices-up-after-sharp-drop-in-fuel-stocks-reuters.md) | -0.4% | -19.7% |
| WTI | 2024-06-20 | [Oil prices rise on US crude draw; jobs data feeds rate cut hopes](https://feedsoft.ai/events/29926-oil-prices-rise-on-us-crude-draw-jobs-data-feeds-rate-cut-hopes.md) | -0.7% | +1.7% |
| WTI | 2024-12-28 | [Oil News: Crude Prices Climb on U.S. Stock Draw and China Demand Outlook](https://feedsoft.ai/events/27121-oil-news-crude-prices-climb-on-u-s-stock-draw-and-china-demand-outlook.md) | +4.2% | +4.2% |
| WTI | 2024-12-30 | [EIA: U.S. crude stocks fall on strong refining demand](https://feedsoft.ai/events/27162-eia-u-s-crude-stocks-fall-on-strong-refining-demand.md) | +4.2% | +4.2% |
| 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% |
| BRENT | 2024-06-20 | [Oil prices rise on US crude draw; jobs data feeds rate cut hopes](https://feedsoft.ai/events/29926-oil-prices-rise-on-us-crude-draw-jobs-data-feeds-rate-cut-hopes.md) | +0.0% | -0.1% |
| BRENT | 2024-12-28 | [Oil News: Crude Prices Climb on U.S. Stock Draw and China Demand Outlook](https://feedsoft.ai/events/27121-oil-news-crude-prices-climb-on-u-s-stock-draw-and-china-demand-outlook.md) | +3.8% | +4.4% |
| BRENT | 2024-12-30 | [EIA: U.S. crude stocks fall on strong refining demand](https://feedsoft.ai/events/27162-eia-u-s-crude-stocks-fall-on-strong-refining-demand.md) | +3.8% | +4.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/09/28/oil-markets-supply-hurricane-ian-us-dollar.html

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