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Market Impact: 0.7

Crude Oil Prices Plunge on Opening of the Strait of Hormuz

Energy Markets & PricesCommodities & Raw MaterialsCommodity FuturesGeopolitics & WarMarket Technicals & Flows

May WTI crude oil fell $11.82, or 12.48%, to a 5-week low, while May RBOB gasoline dropped 0.2138, or 6.76%, to a 1-week low. The selloff reflects sharply weaker energy prices after Iran said... The move is significant for the energy complex and could pressure related producers and inflation-sensitive assets.

Analysis

May WTI crude oil fell $11.82, or 12.48%, to a 5-week low, while May RBOB gasoline dropped 0.2138, or 6.76%, to a 1-week low. The selloff reflects sharply weaker energy prices after Iran said... The move is significant for the energy complex and could pressure related producers and inflation-sensitive assets.

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