# Oil falls to near 2 month lows amid fresh stockpile worries

> Oil slid to its lowest level in nearly two months after the US Energy Information Administration reported a ninth straight weekly rise in crude inventories. Brent fell more than 3.4 percent to $54.01 and WTI dropped 3.7 percent to $51.16.

- Date: 2017-03-08 · published 2017-03-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weekly stock builds that keep rising deepen concerns about oversupply, which pushes crude and energy-linked costs lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-05-30 | [Oil falls to 2-month lows on small US crude stock draw, trade war worries \| Fox Business](https://feedsoft.ai/events/9889-oil-falls-to-2-month-lows-on-small-us-crude-stock-draw-trade-war-worries-fox.md) | -12.3% | +0.7% |
| WTI | 2022-08-03 | [Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build](https://feedsoft.ai/events/12796-oil-falls-to-nearly-6-month-lows-after-surprise-u-s-crude-gasoline-build.md) | -4.1% | -4.5% |
| WTI | 2021-03-18 | [Oil Markets: U.S. stockpile build, demand worries](https://feedsoft.ai/events/6201-oil-markets-u-s-stockpile-build-demand-worries.md) | -5.3% | -1.8% |
| WTI | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -6.4% | -14.5% |
| WTI | 2024-05-01 | [Crude oil prices today: WTI falls to $79 on stockpile build, weak demand](https://feedsoft.ai/events/7236-crude-oil-prices-today-wti-falls-to-79-on-stockpile-build-weak-demand.md) | -4.3% | -3.7% |
| BRENT | 2019-05-30 | [Oil falls to 2-month lows on small US crude stock draw, trade war worries \| Fox Business](https://feedsoft.ai/events/9889-oil-falls-to-2-month-lows-on-small-us-crude-stock-draw-trade-war-worries-fox.md) | -12.4% | -4.8% |
| BRENT | 2021-03-18 | [Oil Markets: U.S. stockpile build, demand worries](https://feedsoft.ai/events/6201-oil-markets-u-s-stockpile-build-demand-worries.md) | -5.6% | -2.0% |
| BRENT | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -3.5% | -14.1% |

## Sources

- ft.com: https://www.ft.com/content/b23c362b-a733-398a-b4af-87f57e37dcd3

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