Oil prices drop as coordinated reserve release eases some supply fears

After 215 past bearish policy events, WTI moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.

• Mar 10, 2026WTI Oil prices drop as G7 mulls reserves, IEA assesses supply risks-1.3%
• Mar 31, 2022Oil slumps 7% as U.S. plans record crude reserve release | Reuters-10.6%
• Mar 11, 2026Oil prices fall as WSJ says IEA proposes largest oil stock release ever | Reuters+14.9%
• Mar 31, 2022Oil Futures Fall 5% as Biden considers Huge SPR Release-10.6%
• Mar 9, 2022Oil prices fall most in 2 years as UAE supports output hike | Reuters-22.0%

After 210 past bearish policy events, BRENT moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.

• Mar 10, 2026WTI Oil prices drop as G7 mulls reserves, IEA assesses supply risks+4.1%
• Mar 31, 2022Oil slumps 7% as U.S. plans record crude reserve release | Reuters-11.9%
• Mar 11, 2026Oil prices fall as WSJ says IEA proposes largest oil stock release ever | Reuters+19.2%
• Mar 31, 2022Oil Futures Fall 5% as Biden considers Huge SPR Release-11.9%
• Mar 9, 2022Oil prices fall most in 2 years as UAE supports output hike | Reuters-21.5%