Asia-Pacific markets set to track Wall Street gains as oil declines

Brent crude fell 2.84% to $100.21/bbl and U.S. WTI plunged 5.28% to $93.50 on Monday. The sharp drop in futures prices is a significant near-term negative for energy sector performance and commodity-linked assets, and could ease inflationary pressure from fuel costs while benefiting oil-importing economies.

Analysis

Brent crude fell 2.84% to $100.21/bbl and U.S. WTI plunged 5.28% to $93.50 on Monday. The sharp drop in futures prices is a significant near-term negative for energy sector performance and commodity-linked assets, and could ease inflationary pressure from fuel costs while benefiting oil-importing economies.