# Oil falls to below $49 per barrel in selloff - UPI.com

> WTI crude fell 2.8 percent to $48.88 a barrel, its first close below $49 this year, after US inventory data showed record stockpiles. Natural gas futures rose on the same day.

- Date: 2017-03-09 · published 2017-03-09T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/72161-oil-falls-to-below-49-per-barrel-in-selloff-upi-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Record US crude inventories signal oversupply that pressures crude prices and the energy costs behind biofuel and processing margins.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-09 | [Oil price falls below $50 as U.S. supplies hit record](https://feedsoft.ai/events/8368-oil-price-falls-below-50-as-u-s-supplies-hit-record.md) | -2.9% | +2.3% |
| WTI | 2017-03-09 | [WTI oil prices fall below $50 for first time since December](https://feedsoft.ai/events/8365-wti-oil-prices-fall-below-50-for-first-time-since-december.md) | -2.9% | +2.3% |
| 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 | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.8% | -15.7% |
| WTI | 2022-08-03 | [Oil Falls Below $90 for First Time Since War as Demand Slows - Bloomberg](https://feedsoft.ai/events/12800-oil-falls-below-90-for-first-time-since-war-as-demand-slows-bloomberg.md) | -4.1% | -4.5% |
| BRENT | 2017-03-09 | [WTI oil prices fall below $50 for first time since December](https://feedsoft.ai/events/8365-wti-oil-prices-fall-below-50-for-first-time-since-december.md) | -3.7% | +1.3% |
| 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 | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.2% | -14.8% |

## Sources

- upi.com: https://www.upi.com/Energy-News/2017/03/09/Oil-falls-to-below-49-per-barrel-in-selloff/9861489073558/

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