# Oil prices sink as US crude and gasoline stockpiles rise

> US oil futures settled $1.71 lower at $61.39 on May 21, 2019, down 2.7%, after the EIA reported a 4.7 million barrel build in crude inventories versus expectations of a draw. Gasoline stocks also rose unexpectedly by 3.7 million barrels. Brent fell $1.19 to $70.99.

- Date: 2019-05-22 · published 2019-05-22T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/9794-oil-prices-sink-as-us-crude-and-gasoline-stockpiles-rise
- 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

Surprise inventory builds signal weaker near-term crude demand and raise worries that the US-China trade war will cut fuel consumption, pressuring energy prices. Lower crude and gasoline costs tend to weigh on biofuel margins and related energy-linked feed inputs.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-05-22 | 1 | -3.0% | -3.9 | EIA reported a surprise 4.7M barrel crude build and a gasoline build on May 21-22, sending Brent down $1.19 to $70.99 and driving the drop in the window. |
| DIESEL | 2019-05-22 | 1 | -3.0% | -5.1 | Oil futures fell 2.7% on May 21 after the EIA reported an unexpected 4.7M bbl crude build and a gasoline stock build, a bearish supply signal that pulled ULSD lower into the May 22 move. |
| WTI | 2019-05-22 | 1 | -3.6% | -4.6 | The prior day's EIA build in crude and gasoline stocks and a 2.7% price drop set the bearish tone that carried into the next session. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -6.6% | -3.7% |
| WTI | 2018-08-15 | [Oil prices sink after big, unexpected jump in US crude stockpiles](https://feedsoft.ai/events/63706-oil-prices-sink-after-big-unexpected-jump-in-us-crude-stockpiles.md) | +0.4% | +5.0% |
| WTI | 2019-06-05 | [Oil sinks as US crude stockpiles unexpectedly surge](https://feedsoft.ai/events/10748-oil-sinks-as-us-crude-stockpiles-unexpectedly-surge.md) | -0.4% | +4.8% |
| WTI | 2022-07-13 | [U.S. crude, fuel stockpiles rise as demand slackens - EIA](https://feedsoft.ai/events/40646-u-s-crude-fuel-stockpiles-rise-as-demand-slackens-eia.md) | +8.7% | -4.9% |
| 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 | 2018-02-07 | [Oil prices tank as US crude and fuel stockpiles jump](https://feedsoft.ai/events/11357-oil-prices-tank-as-us-crude-and-fuel-stockpiles-jump.md) | -6.7% | -1.6% |
| BRENT | 2018-08-15 | [Oil prices sink after big, unexpected jump in US crude stockpiles](https://feedsoft.ai/events/63706-oil-prices-sink-after-big-unexpected-jump-in-us-crude-stockpiles.md) | +0.7% | +9.8% |
| BRENT | 2019-06-05 | [Oil sinks as US crude stockpiles unexpectedly surge](https://feedsoft.ai/events/10748-oil-sinks-as-us-crude-stockpiles-unexpectedly-surge.md) | +0.3% | -0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/05/22/oil-market-middle-east-tensions-opec-supply-cut-in-focus.html

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