# Oil price falls below $50 as U.S. supplies hit record

> US crude dipped below $50 for the first time since December as a global supply glut persisted despite cuts by big exporters. WTI fell $1.23 to $49.05 and was down 9 percent in March, with US commercial crude supplies rising for nine straight weeks to a record 528.4 million barrels.

- Date: 2017-03-09 · published 2017-03-09T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8368-oil-price-falls-below-50-as-u-s-supplies-hit-record
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Record US inventories and continued output signal persistent oversupply, which keeps crude and energy-linked feed costs under downward pressure.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-11-01 | [US Oil Production Hits Another Record, Adding to Supply Worries](https://feedsoft.ai/events/27770-us-oil-production-hits-another-record-adding-to-supply-worries.md) | +4.5% | -1.9% |
| WTI | 2020-09-10 | [Oil prices fall as growing U.S. stockpiles signal bumpy demand recovery \| Financial Post](https://feedsoft.ai/events/7477-oil-prices-fall-as-growing-u-s-stockpiles-signal-bumpy-demand-recovery.md) | +5.6% | +4.8% |
| WTI | 2024-06-01 | [Oil price forecasts cut as supply risks trend lower, Reuters poll finds](https://feedsoft.ai/events/30415-oil-price-forecasts-cut-as-supply-risks-trend-lower-reuters-poll-finds.md) | -1.9% | +8.5% |
| WTI | 2019-06-05 | [U.S. oil prices enter a bear market as weekly domestic crude supplies jump to a nearly 2-year high - MarketWatch](https://feedsoft.ai/events/11592-u-s-oil-prices-enter-a-bear-market-as-weekly-domestic-crude-supplies-jump-to-a.md) | -0.4% | +4.8% |

## Sources

- usatoday.com: https://www.usatoday.com/story/money/2017/03/09/crude-oil-prices-fall-below-50-us-stockpiles-rise/98951274/

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