Oil and Natural Gas Plunge: USO -3.76%, UNG -6.63%
Crude oil and natural gas prices suffered sharp declines today, with USO falling 3.76% and UNG losing 6.63%. This rout is likely driven by demand worries and oversupply, impacting energy-related prediction markets such as WTI price targets.
Key takeaways
- 01
Crude oil and natural gas prices suffered sharp declines today, with USO falling 3.76% and UNG losing 6.63%.
- 02
This rout is likely driven by demand worries and oversupply, impacting energy-related prediction markets such as WTI price targets.
- 03
Traditional energy markets saw a significant selloff today.
Full analysis
Traditional energy markets saw a significant selloff today. The United States Oil Fund (USO) dropped 3.76% to $109, while the United States Natural Gas Fund (UNG) plunged 6.63% to $10.84. This broad weakness in commodities is reflected in prediction markets for oil prices. The WTI maximum settle price contract for 2026 (KXWTIMAX-26DEC31-T15) trades at 15¢ for reaching $150, indicating bearish sentiment on further upside. The monthly average compute price for NVIDIA's B200 (KXB200MS-26JUL-3.00) remains high at 99¢ above $3.00, showing tech chip demand is unaffected. Traders should monitor upcoming inventory reports and OPEC+ statements for further direction. Key contracts to watch: KXWTIMIN (minimum WTI), KXBRENTMON (Brent crude), and KXSPRLVL (Strategic Petroleum Reserve level). The selloff in natural gas is particularly severe, with UNG down 6.63%, likely due to mild weather forecasts reducing demand. Prediction markets for natural gas are limited, but the move in USO/UNG sets the tone for energy macro.
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