Crude oil prices fall following Poland missile strike investigation

Oil markets are declining as NATO clears Russia of wrongdoing in the Poland missile strike that killed two civilians.

Video transcript

- All right, well, let's also get you up to speed with energy. Let's head to the interactive here. We're going to take a look, first of all, what we're seeing with oil. As you can see there, WTI down more than 4% on the day. And as we take a closer look and we see it's near the lows of the day, tanking later on in the morning, the same situation for Brent Crude, also falling for morning, trading, trying to gain back some of those gains, but it has been very volatile, down 3 and 1/3 of a percent there that we saw.

These were coming down as geopolitical tensions eased after NATO cleared Russia about those missiles that crossed into Poland. And we also saw a jump in China's COVID cases after an incremental loosening of zero COVID, also spelling weak demand.

I also want to take a look at what's happening with RBOB gasoline futures. We're seeing that they're faring slightly better. But really, though, the better performer of the day, really the only bit of green we're seeing, is in natural gas. Now that's thanks to healthy inventories, though, while still bracing for some of the impacts of these weather events for the winter that we're still expected to see as well.