# Oil Futures Fall 5% as Biden considers Huge SPR Release

> Oil futures fell more than 5% in early trading after reports that the Biden administration is considering a release of up to 180 million barrels from the Strategic Petroleum Reserve over six months. The release would be the largest draw from US emergency reserves in history and is reportedly being coordinated with other OECD countries.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/9140-oil-futures-fall-5-as-biden-considers-huge-spr-release
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A record stockpile release adds about 1 million barrels per day of supply, pressuring crude prices lower. Goldman Sachs noted it would not resolve the underlying market deficit, so the price effect may be temporary.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-04-01 | 5 | -13.5% | -3.3 | Reports of a record 180 million barrel SPR release over six months triggered a 5% drop in futures, adding supply. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | [OIL FUTURES: US SPR release, OPEC+ output hike send crude sharply lower \| S&P Global](https://feedsoft.ai/events/11048-oil-futures-us-spr-release-opec-output-hike-send-crude-sharply-lower-s-and-p.md) | -10.6% | -2.2% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2021-11-24 | [Oil prices drop as coordinated reserve release eases some supply fears](https://feedsoft.ai/events/4776-oil-prices-drop-as-coordinated-reserve-release-eases-some-supply-fears.md) | -16.5% | -7.1% |
| WTI | 2022-04-01 | [Oil falls most in 2 years after oil stockpile release](https://feedsoft.ai/events/11045-oil-falls-most-in-2-years-after-oil-stockpile-release.md) | -4.4% | +4.2% |
| WTI | 2022-03-31 | [Oil slumps 7% as U.S. plans record crude reserve release \| Reuters](https://feedsoft.ai/events/42429-oil-slumps-7-as-u-s-plans-record-crude-reserve-release-reuters.md) | -10.6% | -2.2% |
| BRENT | 2022-03-31 | [OIL FUTURES: US SPR release, OPEC+ output hike send crude sharply lower \| S&P Global](https://feedsoft.ai/events/11048-oil-futures-us-spr-release-opec-output-hike-send-crude-sharply-lower-s-and-p.md) | -11.9% | -6.8% |
| BRENT | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +19.2% | +21.1% |
| BRENT | 2021-11-24 | [Oil prices drop as coordinated reserve release eases some supply fears](https://feedsoft.ai/events/4776-oil-prices-drop-as-coordinated-reserve-release-eases-some-supply-fears.md) | -14.7% | -11.4% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2022/03/31/oil-futures-fall-5-biden-considers

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