# Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder

> Oil prices rose on Wednesday after U.S. crude stockpiles fell for a sixth straight week as refiners increased runs. Cushing inventories fell to their lowest since March 2020 ahead of the OPEC+ meeting.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/46757-oil-rises-on-lower-u-s-stockpiles-demand-recovery-markets-business-recorder
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Falling U.S. inventories and strong refinery demand point to firmer crude and diesel prices, raising energy costs across feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-07-31 | [Oil on track for monthly gains as US cuts production - Markets - Business Recorder](https://feedsoft.ai/events/52264-oil-on-track-for-monthly-gains-as-us-cuts-production-markets-business-recorder.md) | +5.2% | +7.7% |
| WTI | 2023-04-14 | [Oil rises, logs weekly gains after IEA predicts record demand](https://feedsoft.ai/events/36561-oil-rises-logs-weekly-gains-after-iea-predicts-record-demand.md) | -5.9% | -13.8% |
| WTI | 2018-02-12 | [Brent Crude, West Texas Intermediate, OPEC Says Oil Demand to Rise - Markets Insider](https://feedsoft.ai/events/66662-brent-crude-west-texas-intermediate-opec-says-oil-demand-to-rise-markets-insider.md) | +4.4% | +3.6% |
| WTI | 2021-08-25 | [Oil rises on US fuel demand, extends rally](https://feedsoft.ai/events/11408-oil-rises-on-us-fuel-demand-extends-rally.md) | +1.4% | +7.1% |
| WTI | 2019-07-31 | [Oil Rises On US Stockpile Drawdown, Focus On Fed Meeting - BizWatchNigeria.Ng](https://feedsoft.ai/events/58265-oil-rises-on-us-stockpile-drawdown-focus-on-fed-meeting-bizwatchnigeria-ng.md) | -7.6% | -5.3% |
| BRENT | 2020-07-31 | [Oil on track for monthly gains as US cuts production - Markets - Business Recorder](https://feedsoft.ai/events/52264-oil-on-track-for-monthly-gains-as-us-cuts-production-markets-business-recorder.md) | +4.9% | +4.7% |
| BRENT | 2023-04-14 | [Oil rises, logs weekly gains after IEA predicts record demand](https://feedsoft.ai/events/36561-oil-rises-logs-weekly-gains-after-iea-predicts-record-demand.md) | -4.8% | -12.9% |
| BRENT | 2018-02-12 | [Brent Crude, West Texas Intermediate, OPEC Says Oil Demand to Rise - Markets Insider](https://feedsoft.ai/events/66662-brent-crude-west-texas-intermediate-opec-says-oil-demand-to-rise-markets-insider.md) | +2.6% | +3.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40104052
- brecorder.com: https://www.brecorder.com/news/40104070

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