# The Commodities Feed: What goes up, must come down | articles | ING THINK

> ING reported that Brent settled almost 3.4% lower to $83.44 a barrel after a bearish EIA report showed US commercial crude stocks rising 7.27 million barrels to about 461 million barrels. Gasoline inventories also rose while implied gasoline demand hit a seasonal low since 2020.

- Date: 2024-05-02 · published 2024-05-02T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/7234-the-commodities-feed-what-goes-up-must-come-down-articles-ing-think
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising US crude and weak gasoline demand point to softer energy-linked demand, reducing support for ethanol and biofuel feedstocks. The risk premium erosion lowers energy-linked input costs for feed ingredients.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2024-05-01 | 1 | -5.3% | -4.4 | It details the bearish EIA inventory report (crude and gasoline builds, weak gasoline demand) behind Brent's decline, but it is dated May 2 and may partly reflect the following day's settlement. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-06-12 | [The Commodities Feed: USDA pushes up wheat supply estimates \| articles \| ING THINK](https://feedsoft.ai/events/35446-the-commodities-feed-usda-pushes-up-wheat-supply-estimates-articles-ing-think.md) | +2.6% | +5.2% |
| BRENT | 2023-10-05 | [Oil takes a hit \| articles \| ING THINK](https://feedsoft.ai/events/7362-oil-takes-a-hit-articles-ing-think.md) | -1.3% | -2.3% |
| BRENT | 2025-10-30 | [The Commodity Markets Outlook in eight charts](https://feedsoft.ai/events/22717-the-commodity-markets-outlook-in-eight-charts.md) | -2.2% | -1.5% |
| BRENT | 2020-09-03 | [What Explains The Sudden Drop In Oil Prices? \| OilPrice.com](https://feedsoft.ai/events/10229-what-explains-the-sudden-drop-in-oil-prices-oilprice-com.md) | -7.3% | -6.7% |
| BRENT | 2019-01-02 | [Energy commodity prices fell significantly in the last quarter of 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/61271-energy-commodity-prices-fell-significantly-in-the-last-quarter-of-2018-u-s.md) | +10.8% | +17.2% |
| WTI | 2023-10-05 | [Oil takes a hit \| articles \| ING THINK](https://feedsoft.ai/events/7362-oil-takes-a-hit-articles-ing-think.md) | -0.8% | -4.1% |
| WTI | 2025-10-30 | [The Commodity Markets Outlook in eight charts](https://feedsoft.ai/events/22717-the-commodity-markets-outlook-in-eight-charts.md) | -1.4% | -3.7% |
| WTI | 2016-09-02 | [Commodities: Gasoline drops for Labor Day](https://feedsoft.ai/events/8590-commodities-gasoline-drops-for-labor-day.md) | +10.3% | +10.6% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-what-goes-up-must-come-down020524/

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