# Oil falls for second day as supply-driven rally peters out

> Oil prices fell for a second day after U.S. crude inventories rose by 4.6 million barrels, exceeding expectations, as Gulf offshore output resumed after Hurricane Ida. Brent slipped 0.6% to $78.58 and U.S. crude to $74.84, with OPEC+ maintaining its gradual approach to adding supply.

- Date: 2021-09-29 · published 2021-09-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/45233-oil-falls-for-second-day-as-supply-driven-rally-peters-out
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rebounding US output and inventory builds ease crude tightness, slightly reducing support for biofuel economics and vegetable oil prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2021/09/29/oil-markets-demand-outlook-covid.html

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