Oil prices sink after big, unexpected jump in US crude stockpiles

After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.

• Jun 5, 2019Oil sinks as US crude stockpiles unexpectedly surge-0.4%
• Feb 7, 2018Oil prices tank as US crude and fuel stockpiles jump-6.6%
• May 22, 2019Oil prices sink as US crude and gasoline stockpiles rise-6.4%
• Jul 26, 2023Oil falls 1% after Fed rate hike, smaller-than-expected US crude stockdraw+2.1%
• May 1, 2024Crude oil prices today: WTI falls to $79 on stockpile build, weak demand-4.3%

After 129 past bearish report events, Crude Oil (Brent) moved a median -1.3% over 5 sessions (45% higher; middle half -3.9% to +2.5%), and +0.4% over 20.

• Jun 5, 2019Oil sinks as US crude stockpiles unexpectedly surge+0.3%
• Feb 7, 2018Oil prices tank as US crude and fuel stockpiles jump-6.7%
• May 22, 2019Oil prices sink as US crude and gasoline stockpiles rise-3.5%
• Jul 26, 2023Oil falls 1% after Fed rate hike, smaller-than-expected US crude stockdraw+1.9%
• May 1, 2024Crude oil prices today: WTI falls to $79 on stockpile build, weak demand-5.8%