# Oil Markets: U.S. stockpile build, demand worries

> Oil fell more than 7% on March 18, 2021, to its worst day since September, with Brent settling at $63.28 and WTI at $60. The decline followed EIA data showing a fourth straight weekly rise in U.S. crude inventories after winter refinery shutdowns, plus a stronger dollar after the Fed meeting.

- Date: 2021-03-18 · published 2021-03-18T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/6201-oil-markets-u-s-stockpile-build-demand-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rising U.S. crude stocks point to surplus supply, pressuring prices and energy-linked feed costs. The stronger dollar adds further downside pressure on dollar-denominated commodities.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2021-03-18 | 1 | -8.3% | -5.4 | Covers the same day's selloff, citing a fourth straight weekly US crude stock build and a stronger dollar after the Fed meeting. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -6.4% | -14.5% |
| WTI | 2024-05-01 | [Crude oil prices today: WTI falls to $79 on stockpile build, weak demand](https://feedsoft.ai/events/7236-crude-oil-prices-today-wti-falls-to-79-on-stockpile-build-weak-demand.md) | -4.3% | -3.7% |
| WTI | 2017-03-08 | [Oil falls to near 2 month lows amid fresh stockpile worries](https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries.md) | -10.3% | -3.5% |
| WTI | 2020-09-10 | [Oil prices fall as growing U.S. stockpiles signal bumpy demand recovery \| Financial Post](https://feedsoft.ai/events/7477-oil-prices-fall-as-growing-u-s-stockpiles-signal-bumpy-demand-recovery.md) | +5.6% | +4.8% |
| WTI | 2022-07-13 | [U.S. crude, fuel stockpiles rise as demand slackens - EIA](https://feedsoft.ai/events/40646-u-s-crude-fuel-stockpiles-rise-as-demand-slackens-eia.md) | +8.7% | -4.9% |
| BRENT | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -3.5% | -14.1% |
| BRENT | 2024-05-01 | [Crude oil prices today: WTI falls to $79 on stockpile build, weak demand](https://feedsoft.ai/events/7236-crude-oil-prices-today-wti-falls-to-79-on-stockpile-build-weak-demand.md) | -5.8% | -6.2% |
| BRENT | 2017-03-08 | [Oil falls to near 2 month lows amid fresh stockpile worries](https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries.md) | -9.1% | -3.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/03/18/oil-markets-us-stockpile-build-demand-worries.html

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