# Oil slumps $3/bbl on gasoline stockpiles, rate hikes and resuming supply | Reuters

> Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles. An ECB rate hike also stoked demand worries while oil supply returned.

- Date: 2022-07-21 · published 2022-07-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/40657-oil-slumps-3-bbl-on-gasoline-stockpiles-rate-hikes-and-resuming-supply-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising inventories and weaker demand expectations point to softer crude prices, which can ease input costs for feed energy and freight but also lower biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-edge-lower-demand-concerns-outweigh-tight-supply-2022-07-21/

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