# Oil drops on record inventory build, supply concerns

> Oil fell to its lowest level in more than 18 years after EIA data showed US crude inventories rose 19.2 million barrels for the week ending April 10. That was well above analyst expectations of a 12 million barrel build.

- Date: 2020-04-15 · published 2020-04-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/4484-oil-drops-on-record-inventory-build-supply-concerns
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A larger-than-expected inventory build confirms oversupply and signals further downward pressure on crude prices. Weaker energy prices reduce biofuel and feedstock demand support.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-05-18 | [CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension](https://feedsoft.ai/events/70932-corrected-update-1-oil-drops-on-rising-us-crude-inventories-defies-expected.md) | +4.2% | -9.3% |
| WTI | 2020-09-10 | [Oil prices dip as inventory builds](https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds.md) | +5.6% | +4.8% |
| WTI | 2021-11-17 | [Oil slumps, hits six-week lows on revived supply concerns \| Reuters](https://feedsoft.ai/events/11833-oil-slumps-hits-six-week-lows-on-revived-supply-concerns-reuters.md) | -2.9% | -12.2% |
| WTI | 2018-02-07 | [Oil hits one-month low after U.S. inventory build](https://feedsoft.ai/events/11359-oil-hits-one-month-low-after-u-s-inventory-build.md) | -6.6% | -3.7% |
| WTI | 2023-02-24 | [U.S. crude oil inventories rose as utilization drops](https://feedsoft.ai/events/37510-u-s-crude-oil-inventories-rose-as-utilization-drops.md) | +3.7% | -7.3% |
| BRENT | 2017-05-18 | [CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension](https://feedsoft.ai/events/70932-corrected-update-1-oil-drops-on-rising-us-crude-inventories-defies-expected.md) | +3.2% | -11.1% |
| BRENT | 2020-09-10 | [Oil prices dip as inventory builds](https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds.md) | +3.3% | +2.3% |
| BRENT | 2021-11-17 | [Oil slumps, hits six-week lows on revived supply concerns \| Reuters](https://feedsoft.ai/events/11833-oil-slumps-hits-six-week-lows-on-revived-supply-concerns-reuters.md) | +0.3% | -11.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/04/15/oil-markets-crude-output-in-focus.html

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