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The S&P 500 Energy sector experienced a notable decline, falling by 7.5% on April 4, marking its largest drop since May 2022. By the end of the day, the sector had decreased by 5.8%, reaching its lowest point since January 2024. Over the past two days, the S&P 500 Energy sector has plummeted by 14%, the steepest decline since March 2020. In related market movements, crude oil prices dropped by 7%, with the front-month price falling $8.05 (11%) from $73.63 to $65.58 for the week ending April 4. Additionally, U.S. natural gas futures prices decreased by $0.23 (6%) from $4.07 to $3.84 during the same period. The broader S&P 500 index is down 13.7% in the first 64 trading days of 2025, marking the sixth worst start to the year in history.
WTI net long positions rose 3 mmb (3%) for the week ending March 28 Long positions increased 2 (1%) mmb and shorts fell by 1 (1%) Price increased $1.77 (3%) from $67.64 to $69.41 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities #commoditiesmarket https://t.co/jjQIrIf81f
ICE Brent net long positions rose 56 mmb (21%) for the week ending March 28 Long positions increased 63 mmb (18%) and shorts increased 7 mmb (8%) Brent futures price rose $2.18 (3%) from $71.31 to $73.49 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #Commodities https://t.co/U2mmVKxClR
U.S natural gas net long positions decreased 15 bcf for the week ending March 28 Nymex price fell $0.13 (3%) from $4.05 to $3.93 #energy #NaturalGas #shale #fintwit #oilandgas #Commodities #ONGT #natgas https://t.co/36kS2UnRYp