# Oil falls to 2-month lows on small US crude stock draw, trade war worries | Fox Business

> Oil fell almost 4% to two-month lows after the EIA reported a crude stock draw of about 300,000 barrels, smaller than the 900,000 expected. US crude inventories remained about 5% above the five-year average. Fears of a slowdown from the US-China trade war added to the decline.

- Date: 2019-05-30 · published 2019-05-30T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/9889-oil-falls-to-2-month-lows-on-small-us-crude-stock-draw-trade-war-worries-fox
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stocks still sitting well above seasonal norms and weaker demand expectations from trade tensions outweigh the smaller draw, pushing prices lower.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2019-05-30 | 1 | -4.5% | -4.2 | Directly describes the May 30 drop of almost 4% to two-month lows on a smaller-than-expected EIA crude draw and trade-war slowdown fears. |
| BRENT | 2019-06-03 | 5 | -10.4% | -2.9 | On May 30 oil fell almost 4% to two-month lows as a small crude draw and trade war fears hurt sentiment. |

## 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 | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -6.4% | -14.5% |
| WTI | 2022-08-03 | [Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build](https://feedsoft.ai/events/12796-oil-falls-to-nearly-6-month-lows-after-surprise-u-s-crude-gasoline-build.md) | -4.1% | -4.5% |
| WTI | 2017-03-09 | [Oil Drops to Lowest Since OPEC Deal, U.S. Crude Below $50/bbl \| Fox Business](https://feedsoft.ai/events/8367-oil-drops-to-lowest-since-opec-deal-u-s-crude-below-50-bbl-fox-business.md) | -2.9% | +2.3% |
| 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 | 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 | 2019-05-22 | [Oil loses about 2% on swelling US stockpiles, demand worries \| Fox Business](https://feedsoft.ai/events/6607-oil-loses-about-2-on-swelling-us-stockpiles-demand-worries-fox-business.md) | -3.5% | -14.1% |
| BRENT | 2017-03-09 | [Oil Drops to Lowest Since OPEC Deal, U.S. Crude Below $50/bbl \| Fox Business](https://feedsoft.ai/events/8367-oil-drops-to-lowest-since-opec-deal-u-s-crude-below-50-bbl-fox-business.md) | -3.7% | +1.3% |

## Sources

- foxbusiness.com: https://www.foxbusiness.com/energy/oil-falls-to-2-month-lows-on-small-us-crude-stock-draw-trade-war-worries-may-30-2019

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