# Oil slides 2% on rising U.S. fuel stocks and output

> Oil prices slid about 2% on June 29 as US gasoline and distillate inventories rose and refiners ramped up runs to about 95% of capacity. US crude production reached its highest level since April 2020. Brent August settled at $116.26 and WTI at $109.78.

- Date: 2022-07-01 · published 2022-07-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/41130-oil-slides-2-on-rising-u-s-fuel-stocks-and-output
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Rising US fuel and crude supplies ease the tightness in energy markets, which can lower diesel and transport costs for feed mills and grain logistics.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-take-breather-after-three-day-rally-2022-06-29/

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