# Oil slumps, stocks soar as Mideast conflict worries fade | Reuters

> The EIA reported that U.S. crude inventories rose 1.2 million barrels in the week ended Jan. 3, against expectations of a decline. Brent settled at $65.44 and WTI at $59.61 after falling sharply.

- Date: 2020-01-08 · published 2020-01-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/9657-oil-slumps-stocks-soar-as-mideast-conflict-worries-fade-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A surprise stock build signals ample U.S. crude supply, pressuring crude benchmarks lower. Weaker energy prices can reduce costs for diesel and freight used in feed logistics.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-08 | [Oil falls to near 2 month lows amid fresh stockpile worries](https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries.md) | -10.3% | -3.5% |
| WTI | 2021-11-17 | [Oil slumps, hits six-week lows on revived supply concerns \| Reuters](https://feedsoft.ai/events/11833-oil-slumps-hits-six-week-lows-on-revived-supply-concerns-reuters.md) | -2.9% | -12.2% |
| 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 | 2025-04-10 | [Oil settles down over 3% as investors reassess Trump's tariff flip \| Reuters](https://feedsoft.ai/events/6320-oil-settles-down-over-3-as-investors-reassess-trump-s-tariff-flip-reuters.md) | +0.3% | -2.8% |
| 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% |
| BRENT | 2017-03-08 | [Oil falls to near 2 month lows amid fresh stockpile worries](https://feedsoft.ai/events/8364-oil-falls-to-near-2-month-lows-amid-fresh-stockpile-worries.md) | -9.1% | -3.0% |
| BRENT | 2021-11-17 | [Oil slumps, hits six-week lows on revived supply concerns \| Reuters](https://feedsoft.ai/events/11833-oil-slumps-hits-six-week-lows-on-revived-supply-concerns-reuters.md) | +0.3% | -11.0% |
| 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% |

## Sources

- reuters.com: https://www.reuters.com/article/business/oil-slumps-stocks-soar-as-mideast-conflict-worries-fade-idUSL1N29D1H4/

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