The US is planning to sell of some of it’s strategic oil reserves to raise cash for budget deal
Probably one of the main reasons for the dump in oil today is the fact that the US is going to sell around 58m barrels in oil between 2018 and 2025. They hold around 700m in reserves and want to offload around 8% of that at an annual rate of 5m barrels starting 2018 and rising to 10m by 2023