# Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement | Reuters

> Oil futures fell sharply after Fed minutes were seen as hawkish and the IEA announced a 120 million barrel reserve release. EIA data showed rising US crude production and inventory builds.

- Date: 2022-04-06 · published 2022-04-06T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/41761-oil-slumps-to-three-week-low-after-fed-minutes-big-iea-reserve-release
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A large coordinated stock release adds supply and pushes crude lower, which feeds into biofuel and diesel costs and therefore soyoil and feed-related energy input prices.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -10.6% | -2.2% |
| WTI | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -10.6% | -2.2% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2021-11-24 | [Reserve oil being released into market that may have peaked - FreightWaves](https://feedsoft.ai/events/7076-reserve-oil-being-released-into-market-that-may-have-peaked-freightwaves.md) | -16.5% | -7.1% |
| WTI | 2022-04-01 | [Oil falls most in 2 years after oil stockpile release](https://feedsoft.ai/events/11045-oil-falls-most-in-2-years-after-oil-stockpile-release.md) | -4.4% | +4.2% |
| BRENT | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -11.9% | -6.8% |
| BRENT | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -11.9% | -6.8% |
| BRENT | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +19.2% | +21.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-extends-losses-higher-dollar-us-stock-build-2022-04-06/

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