# US crude sinks, ending longest winning streak since 2012

> WTI fell $1.94, or 4.1%, to settle at $45.13 on July 5, ending its longest winning streak since 2012. Thomson Reuters data showed OPEC exports rose in June despite the May agreement to extend output cuts.

- Date: 2017-07-05 · published 2017-07-05T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/70149-us-crude-sinks-ending-longest-winning-streak-since-2012
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising OPEC exports despite the output deal add to the perceived glut and weigh on crude prices, lowering energy and biofuel input costs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-01-29 | [Ringgit extends winning streak](https://feedsoft.ai/events/38041-ringgit-extends-winning-streak.md) | -7.9% | -5.2% |
| WTI | 2018-10-18 | [Ringgit snaps 2-day gaining streak to end lower vs US dollar \| FMT](https://feedsoft.ai/events/62789-ringgit-snaps-2-day-gaining-streak-to-end-lower-vs-us-dollar-fmt.md) | -4.3% | -19.3% |
| WTI | 2022-06-17 | [Oil slumps 6%, snaps seven week winning streak](https://feedsoft.ai/events/41116-oil-slumps-6-snaps-seven-week-winning-streak.md) | -7.6% | -11.7% |
| WTI | 2022-03-29 | [Canadian dollar set to snap winning streak - Business & Finance - Business Recorder](https://feedsoft.ai/events/42498-canadian-dollar-set-to-snap-winning-streak-business-and-finance-business.md) | -3.5% | -4.4% |
| WTI | 2020-02-26 | [Crude Sinks to Lowest in a Year as Coronavirus Panic Increases - Bloomberg](https://feedsoft.ai/events/7112-crude-sinks-to-lowest-in-a-year-as-coronavirus-panic-increases-bloomberg.md) | -5.2% | -55.9% |
| BRENT | 2022-06-17 | [Oil slumps 6%, snaps seven week winning streak](https://feedsoft.ai/events/41116-oil-slumps-6-snaps-seven-week-winning-streak.md) | -8.6% | -15.8% |
| BRENT | 2020-02-26 | [Crude Sinks to Lowest in a Year as Coronavirus Panic Increases - Bloomberg](https://feedsoft.ai/events/7112-crude-sinks-to-lowest-in-a-year-as-coronavirus-panic-increases-bloomberg.md) | -5.6% | -53.2% |
| BRENT | 2020-02-27 | [Rupee strengthens against USD amid easing crude oil prices](https://feedsoft.ai/events/54861-rupee-strengthens-against-usd-amid-easing-crude-oil-prices.md) | -5.0% | -51.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/07/05/oil-prices-drop-more-than-3-percent-ending-bullish-streak.html

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