# Reserve oil being released into market that may have peaked - FreightWaves

> The Biden administration announced a coordinated release of 50 million barrels from the US Strategic Petroleum Reserve, with other countries including South Korea, India, China, the UK and Japan also planning releases. The move aims to ease rising US gasoline prices, which were up 61% over twelve months.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/7076-reserve-oil-being-released-into-market-that-may-have-peaked-freightwaves
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Additional crude supply from reserves pressures crude prices lower, which can ease diesel and fertilizer input costs and freight fuel surcharges for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -10.6% | -2.2% |
| WTI | 2022-04-06 | [Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement \| Reuters](https://feedsoft.ai/events/41761-oil-slumps-to-three-week-low-after-fed-minutes-big-iea-reserve-release.md) | -1.4% | +5.7% |
| WTI | 2021-11-24 | [Oil prices drop as coordinated reserve release eases some supply fears](https://feedsoft.ai/events/4776-oil-prices-drop-as-coordinated-reserve-release-eases-some-supply-fears.md) | -16.5% | -7.1% |
| WTI | 2023-06-01 | [The release and refill of the Strategic Petroleum Reserve](https://feedsoft.ai/events/35853-the-release-and-refill-of-the-strategic-petroleum-reserve.md) | +6.5% | +2.6% |
| WTI | 2026-03-23 | [U.S. to bring more diesel to market to address fuel prices: Wright](https://feedsoft.ai/events/20339-u-s-to-bring-more-diesel-to-market-to-address-fuel-prices-wright.md) | +2.2% | -8.1% |
| BRENT | 2019-10-06 | [FreightWaves oil report: physical diesel markets strengthen; IMO 2020 link eyed - FreightWaves](https://feedsoft.ai/events/56766-freightwaves-oil-report-physical-diesel-markets-strengthen-imo-2020-link-eyed.md) | +3.1% | +3.7% |
| BRENT | 2022-03-31 | [Opec+ sticks to output rise plans for May as US announces release of record oil reserves \| The National](https://feedsoft.ai/events/42176-opec-sticks-to-output-rise-plans-for-may-as-us-announces-release-of-record-oil.md) | -11.9% | -6.8% |
| BRENT | 2022-04-06 | [Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement \| Reuters](https://feedsoft.ai/events/41761-oil-slumps-to-three-week-low-after-fed-minutes-big-iea-reserve-release.md) | -2.0% | +3.5% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/reserve-oil-being-released-into-market-that-may-have-peaked

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