WTI down 8.4% on the day
This is not a pretty picture.
It looks like a head-and-shoulders top in oil on the daily chart after an 8% fall today on the tariff headlines. If it materializes, that would point to crude around $49, or at least at test of the June low.
Update: The final closing level was $53.95, which makes this the largest one-day drop since February 2015.
