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Market Impact: 0.6

Crude Oil Prices Plunge on Hopes of Peace Talks to End the Iran War

Energy Markets & PricesCommodities & Raw MaterialsCommodity FuturesFutures & OptionsMarket Technicals & FlowsDerivatives & Volatility

April WTI crude fell $10.10 (-10.28%) to a 1.5-week low and April RBOB gasoline dropped $0.3045 (-9.42%) to a 1-week low on Monday. Both contracts gave up an overnight advance and plunged, indicating a sharp risk-off move in energy futures that could pressure energy equities and refine margins in the near term.

Analysis

April WTI crude fell $10.10 (-10.28%) to a 1.5-week low and April RBOB gasoline dropped $0.3045 (-9.42%) to a 1-week low on Monday. Both contracts gave up an overnight advance and plunged, indicating a sharp risk-off move in energy futures that could pressure energy equities and refine margins in the near term.

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Market Sentiment

Overall Sentiment

strongly negative

Sentiment Score

-0.65