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The S&P 500 energy sector fell 4.4% on Monday, heading for its worst two-day performance in 2.5 years as Chesapeake, Hess and Exxon led the decline. WTI and Brent each lost about $2 a barrel, or roughly 3%, over two sessions amid a broader risk-asset selloff.
Lower crude prices reduce input costs for diesel, fertilizer and transport used in feed production. The broad risk-off move points to continued pressure on energy prices in the near term.
cnbc.comTom DiChristopherFeb 5, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
A broad risk-asset selloff hit energy equities and cut WTI and Brent roughly 3% (about $2/bbl) in two sessions, a sentiment-driven drop that accounts for a large part of the 5-day decline.
The Feb 5 broad risk-asset selloff hit energy equities and cut Brent by roughly 3% over two sessions, a sentiment-driven drop that falls inside the 5-day window ending Feb 12 and accounts for a large share of the -7.78% move.
