# Energy Market Summary: April 3, 2022 | news.cqg.com

> Petroleum prices fell for a third week in four, with WTI down 12.9%, Brent 13.5% and ULSD 16.8% on the week. The US announced a release of 1 million barrels per day from the Strategic Petroleum Reserve over six months, to be coordinated with IEA members. OPEC+ also agreed to another 432 kb/d increase for May.

- Date: 2022-04-01 · published 2022-04-01T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/9137-energy-market-summary-april-3-2022-news-cqg-com
- 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

A large coordinated stockpile release adds near-term crude and distillate supply, pressuring energy prices lower. Lower diesel and fuel costs can ease feed transport and processing expenses.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-04-01 | 5 | -13.5% | -3.3 | The weekly summary shows Brent down 13.5% on the SPR release of 1 mb/d for six months, coordinated with IEA members, plus another OPEC+ increase for May. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +5.8% | -7.1% |
| WTI | 2020-07-31 | [OPEC and Allies Prepare to Pump More Oil Just as Market Recovery Teeters - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/52287-opec-and-allies-prepare-to-pump-more-oil-just-as-market-recovery-teeters.md) | +5.2% | +7.7% |
| WTI | 2018-05-30 | [Market Analysis & Forecast - Investing.com](https://feedsoft.ai/events/64942-market-analysis-and-amp-forecast-investing-com.md) | -1.9% | +10.3% |
| WTI | 2020-11-30 | [Oil Retreats on Signs of OPEC+ Discord Ahead of Key Meeting - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/50337-oil-retreats-on-signs-of-opec-discord-ahead-of-key-meeting-energy-news-top.md) | +1.5% | +4.3% |
| WTI | 2018-05-30 | [Oil Bulls Scurry for Protection Against a Wave of OPEC Supply - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/65174-oil-bulls-scurry-for-protection-against-a-wave-of-opec-supply-energy-news-top.md) | -1.9% | +10.3% |
| BRENT | 2022-06-02 | [OPEC+ alliance boosts oil production as energy prices soar \| AP News](https://feedsoft.ai/events/40836-opec-alliance-boosts-oil-production-as-energy-prices-soar-ap-news.md) | +6.0% | -0.6% |
| BRENT | 2020-07-31 | [OPEC and Allies Prepare to Pump More Oil Just as Market Recovery Teeters - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/52287-opec-and-allies-prepare-to-pump-more-oil-just-as-market-recovery-teeters.md) | +4.9% | +4.7% |
| BRENT | 2018-05-30 | [Market Analysis & Forecast - Investing.com](https://feedsoft.ai/events/64942-market-analysis-and-amp-forecast-investing-com.md) | -1.1% | -0.0% |

## Sources

- news.cqg.com: https://news.cqg.com/index%2Ephp/blogs/commentary/2022/04/energy-market-summary-april-10-2022
- news.cqg.com: https://news.cqg.com/index%2ephp/blogs/commentary/2022/04/energy-market-summary-april-24-2022
- news.cqg.com: https://news.cqg.com/index%2ephp/blogs/commentary/2022/04/energy-market-summary-april-3-2022

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