# Oil falls on oversupply fears and US inventory growth

> Oil prices fell on April 1 after US crude inventories rose 13.8 million barrels, the biggest weekly gain since 2016, according to EIA data. Gasoline demand also fell by a record weekly amount during coronavirus lockdowns.

- Date: 2020-04-01 · published 2020-04-01T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/53815-oil-falls-on-oversupply-fears-and-us-inventory-growth
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A large inventory build and falling fuel demand signal oversupply, which points to continued downward pressure on crude and energy-linked costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-15 | [Oil drops on record inventory build, supply concerns](https://feedsoft.ai/events/4484-oil-drops-on-record-inventory-build-supply-concerns.md) | -32.0% | +25.9% |
| WTI | 2019-11-27 | [Oil falls after surprise US inventory build - Profit by Pakistan Today](https://feedsoft.ai/events/56231-oil-falls-after-surprise-us-inventory-build-profit-by-pakistan-today.md) | +0.3% | +4.9% |
| WTI | 2018-02-12 | [OPEC hikes 2018 forecast for oil supply growth on a flood of US crude](https://feedsoft.ai/events/66425-opec-hikes-2018-forecast-for-oil-supply-growth-on-a-flood-of-us-crude.md) | +4.4% | +3.6% |
| WTI | 2018-11-22 | [Oil falls on rising U.S. inventories, OPEC talk of cut limits loss](https://feedsoft.ai/events/10582-oil-falls-on-rising-u-s-inventories-opec-talk-of-cut-limits-loss.md) | -5.6% | -16.1% |
| 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% |
| BRENT | 2020-04-15 | [Oil drops on record inventory build, supply concerns](https://feedsoft.ai/events/4484-oil-drops-on-record-inventory-build-supply-concerns.md) | -47.7% | +11.5% |
| BRENT | 2019-11-27 | [Oil falls after surprise US inventory build - Profit by Pakistan Today](https://feedsoft.ai/events/56231-oil-falls-after-surprise-us-inventory-build-profit-by-pakistan-today.md) | -4.1% | +5.7% |
| BRENT | 2018-02-12 | [OPEC hikes 2018 forecast for oil supply growth on a flood of US crude](https://feedsoft.ai/events/66425-opec-hikes-2018-forecast-for-oil-supply-growth-on-a-flood-of-us-crude.md) | +2.6% | +3.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/04/01/oil-markets-crude-output-in-focus.html

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