# NYMEX Overview: Futures Move Lower as Geopolitical Tensions Cool -- OPIS

> Petroleum futures fell Monday as geopolitical tensions eased and talks between the U.S. and Iran progressed, with ULSD down more than 15 cents and WTI trading near $62 after a $3 loss. Natural gas also dropped about $1/MMBtu as some curtailments were lifted, and selling spread across commodities including agriculture.

- Date: 2026-02-02 · published 2026-02-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5921-nymex-overview-futures-move-lower-as-geopolitical-tensions-cool-opis
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower crude and energy prices reduce input costs for biofuels and fertilizer and weaken the energy-linked support for soybean oil and corn. Broad commodity selling suggests softer prices for feed ingredients near term.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼
- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-02-02 | 1 | -6.3% | -3.7 | Petroleum futures fell as US-Iran talks progressed and tensions cooled, with selling spreading across commodities. |
| NATGAS | 2026-02-02 | 1 | -32.5% | -3.1 | Reports of natural gas falling about $1/MMBtu on 2026-02-02 as curtailments were lifted point to a supply-side recovery, with easing geopolitical tension adding to broad commodity selling. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-06-24 | [NYMEX Overview : Petroleum Futures Continue to Sell Off Ahead of Midday -- OPIS](https://feedsoft.ai/events/8640-nymex-overview-petroleum-futures-continue-to-sell-off-ahead-of-midday-opis.md) | -4.6% | -1.6% |
| WTI | 2025-11-21 | [Market Talk \| Diesel Futures Slide For Third Day Amid Geopolitical Tensions And Refinery Setbacks](https://feedsoft.ai/events/9310-market-talk-diesel-futures-slide-for-third-day-amid-geopolitical-tensions-and.md) | -2.0% | -5.0% |
| WTI | 2026-08-28 | [Nymex Overview: Oil Prices Easing, on Track to End Week Lower -- OPIS - MarketWatch](https://feedsoft.ai/events/18054-nymex-overview-oil-prices-easing-on-track-to-end-week-lower-opis-marketwatch.md) | +9.2% | +13.1% |
| WTI | 2018-04-02 | [Oil falls as geopolitical anxiety 'comes racing out of the market'](https://feedsoft.ai/events/10847-oil-falls-as-geopolitical-anxiety-comes-racing-out-of-the-market.md) | -4.4% | +5.0% |
| WTI | 2024-10-28 | [Prompt Month Natural Gas Futures Sink 10% as Geopolitical Risks ‘Evaporate’ — MidDay Market Snapshot](https://feedsoft.ai/events/11712-prompt-month-natural-gas-futures-sink-10-as-geopolitical-risks-evaporate-midday.md) | -3.1% | -0.6% |
| BRENT | 2025-06-24 | [NYMEX Overview : Petroleum Futures Continue to Sell Off Ahead of Midday -- OPIS](https://feedsoft.ai/events/8640-nymex-overview-petroleum-futures-continue-to-sell-off-ahead-of-midday-opis.md) | -6.9% | -3.2% |
| BRENT | 2025-11-21 | [Market Talk \| Diesel Futures Slide For Third Day Amid Geopolitical Tensions And Refinery Setbacks](https://feedsoft.ai/events/9310-market-talk-diesel-futures-slide-for-third-day-amid-geopolitical-tensions-and.md) | +0.2% | -5.1% |
| BRENT | 2026-08-28 | [Nymex Overview: Oil Prices Easing, on Track to End Week Lower -- OPIS - MarketWatch](https://feedsoft.ai/events/18054-nymex-overview-oil-prices-easing-on-track-to-end-week-lower-opis-marketwatch.md) | +8.9% | +26.2% |

## Sources

- moomoo.com: https://www.moomoo.com/news/post/64956777/nymex-overview-futures-move-lower-as-geopolitical-tensions-cool-opis

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.