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Market Impact: 0.35

Crude Oil Prices Sink on Deal to Reopen Strait of Hormuz

Energy Markets & PricesCommodities & Raw MaterialsCommodity FuturesMarket Technicals & Flows

July WTI crude fell $4.13 (-4.87%) to a 2-month low, while July RBOB gasoline dropped 10.26 cents (-3.36%) to a 2-month low. The sharp selloff points to weaker near-term energy market sentiment and softer pricing across crude and refined products. The move is notable for energy traders but is not, on this excerpt alone, a broader market-wide shock.

Analysis

July WTI crude fell $4.13 (-4.87%) to a 2-month low, while July RBOB gasoline dropped 10.26 cents (-3.36%) to a 2-month low. The sharp selloff points to weaker near-term energy market sentiment and softer pricing across crude and refined products. The move is notable for energy traders but is not, on this excerpt alone, a broader market-wide shock.

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Market Sentiment

Overall Sentiment

moderately negative

Sentiment Score

-0.45