Energy markets are seeing a strong correction. Prices have fallen sharply in a single day. The drop is visible across oil, gas, and fuel products. Short term pressure is now very clear.
Crude oil is trading at 84.55 USD per barrel. It has dropped 10.71% today. Weekly losses stand at 11.53%. Monthly decline is 10.50%. Still, it is up 48.80% this year and 36.90% yearly.
Brent crude is at 89.57 USD per barrel. It fell 9.87% today. Monthly loss is deeper at 15.10%. Yet it holds a 49.81% gain this year and 37.58% yearly.
Crude oil and heating oil fall over 10% in a day despite strong yearly gains
Heating oil is seeing one of the biggest drops. It is priced at 3.34 USD per gallon. It crashed 12.86% today. Weekly loss is 10.08%. Monthly drop stands at 19.42%. Still, it is up 59.43% this year and 57.56% yearly.
Gasoline is at 2.94 USD per gallon. It fell 7.00% today. Monthly decline is 4.19%. Even after the fall, gasoline has gained 73.52% this year and 41.89% yearly.
Urals oil is trading at 114.65 USD per barrel. It dropped 1.50% today. But it has surged 127.30% this year and 88.88% yearly.
LNG plunges 15.98% while global gas markets drop over 25% monthly
LNG JKM is at 16.13 USD per MMBtu. It crashed 15.98% today. Weekly loss is 17.26%. Monthly drop stands at 16.90%. Still, it is up 67.93% this year and 33.47% yearly.
TTF gas is priced at 38.90 EUR per MWh. It fell 8.29% today. Monthly decline is heavy at 25.29%. Year to date gain is 45.01%.
UK gas is at 97.57 GBp per therm. It dropped 8.20% today. Monthly loss is 26.46%. Yet it is up 38.94% this year.
Natural gas is trading at 2.63 USD per MMBtu. It slipped 0.60% today. Monthly fall is 13.76%. It is down 28.29% this year and 12.36% yearly.
German gas stands at 43.69 EUR per MWh. It is one of the few gainers today with a 2.51% rise. But it is still down 16.40% monthly.
Naphtha gains 87.45% YTD while uranium and propane hold steady
Naphtha is priced at 915.43 USD per ton. It rose 1.73% today. Monthly growth is strong at 11.05%. It has surged 87.45% this year and 66.32% yearly.
Propane is at 0.80 USD per gallon. It gained 1.52% today. Weekly growth is 5.70%. It has risen 25.51% this year.
Uranium is trading at 86.30 USD per pound. It rose 0.82% today. It has gained 5.70% this year and 32.67% yearly.
Coal is at 133.55 USD per ton. It is slightly down 0.15% today. But it remains up 24.23% this year and 40.51% yearly.
Methanol is priced at 3150 CNY per ton. It fell 1.19% today. Monthly growth is still positive at 8.44%. Year to date gain stands at 44.89%.
Overall, energy markets are facing sharp short term selling pressure. Oil and LNG are leading the fall. But strong yearly gains show that the long term trend is still positive.