# Oil prices drop as coordinated reserve release eases some supply fears

> WTI fell 12 cents to $78.38 a barrel and Brent slid 32 cents to $81.99 in early trade on November 24, 2021. The decline followed the US-led coordinated release of strategic reserves with China, India, South Korea, Japan and Britain, and profit-taking ahead of the US holiday.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4776-oil-prices-drop-as-coordinated-reserve-release-eases-some-supply-fears
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The coordinated reserve release adds supply to ease tightness, which tends to pressure crude prices lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-10 | [WTI Oil prices drop as G7 mulls reserves, IEA assesses supply risks](https://feedsoft.ai/events/6635-wti-oil-prices-drop-as-g7-mulls-reserves-iea-assesses-supply-risks.md) | -1.3% | +20.4% |
| WTI | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -10.6% | -2.2% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2022-03-31 | [Oil Futures Fall 5% as Biden considers Huge SPR Release](https://feedsoft.ai/events/9140-oil-futures-fall-5-as-biden-considers-huge-spr-release.md) | -10.6% | -2.2% |
| WTI | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -22.0% | -17.5% |
| BRENT | 2026-03-10 | [WTI Oil prices drop as G7 mulls reserves, IEA assesses supply risks](https://feedsoft.ai/events/6635-wti-oil-prices-drop-as-g7-mulls-reserves-iea-assesses-supply-risks.md) | +4.1% | +27.2% |
| BRENT | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -11.9% | -6.8% |
| BRENT | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +19.2% | +21.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/11/24/oil-markets-coordinated-reserve-release-by-us-china-india-south-korea-japan-britain.html

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