# U.S. demand for oil surges, depleting tanks in Oklahoma

> Crude inventories at Cushing, Oklahoma, the delivery hub for US crude futures, are more depleted than at any point in three years. Dated oil contracts suggest the tightness will persist for months.

- Date: 2021-10-27 · published 2021-10-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/44715-u-s-demand-for-oil-surges-depleting-tanks-in-oklahoma
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Tight US storage supports WTI prices and raises the cost of diesel and freight inputs for US feed production and transport.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -2.4% | +1.3% |
| WTI | 2021-10-11 | [Oil settles up 1.5%; hits multi-year highs on surging demand \| Reuters](https://feedsoft.ai/events/44717-oil-settles-up-1-5-hits-multi-year-highs-on-surging-demand-reuters.md) | +3.6% | +2.2% |
| WTI | 2024-01-18 | [Oil prices rise on global demand forecasts, US crude stock draw](https://feedsoft.ai/events/32278-oil-prices-rise-on-global-demand-forecasts-us-crude-stock-draw.md) | +3.6% | +5.8% |
| WTI | 2024-07-29 | [Oil rises from six-week low with Chinese demand, OPEC+ in focus - Moneyweb](https://feedsoft.ai/events/29443-oil-rises-from-six-week-low-with-chinese-demand-opec-in-focus-moneyweb.md) | -4.6% | -3.3% |
| WTI | 2018-04-11 | [Strong Demand, Not OPEC, Is Pushing Oil Prices Higher \| OilPrice.com](https://feedsoft.ai/events/65723-strong-demand-not-opec-is-pushing-oil-prices-higher-oilprice-com.md) | +1.6% | +5.2% |
| DIESEL | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -5.1% | -1.3% |
| DIESEL | 2021-06-18 | [US Trucking Boom Contributes to Rising Demand for Diesel - TT](https://feedsoft.ai/events/46789-us-trucking-boom-contributes-to-rising-demand-for-diesel-tt.md) | +4.7% | +2.0% |
| DIESEL | 2026-09-25 | [What’s behind the latest surge in grain and oilseed prices?](https://feedsoft.ai/events/17495-what-s-behind-the-latest-surge-in-grain-and-oilseed-prices.md) | -2.3% | +6.2% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/us-demand-oil-surges-depleting-tanks-oklahoma-2021-10-27/

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