Business · Energy & Commodities · 2 hrs ago
Japanese crude oil futures fall sharply as traders take profits
Japanese commodity futures opened with crude oil prices sharply lower on Nov.
4.
The benchmark April 2027 contract started at 92,740 yen per kiloliter, down 3,670 yen from its previous settlement on Nov.
2.
Crude oil had climbed above 100,000 yen to a record high the previous week, prompting traders to sell and secure profits.
Prices were also under pressure as markets saw progress in US-Iran talks to end the fighting as possible.
The headline also says platinum fell to a one-year low, though it gives no further details.
The story does not say what will happen to prices next.
Japanese crude oil futures fell sharply at the start of trading on the morning of November 4.
The April 2027 contract opened at 92,740 yen per kiloliter, down 3,670 yen from its previous settlement.
The previous settlement was on November 2, the last trading day before the market reopening.
The contract had topped 100,000 yen the previous week and reached a record high, encouraging profit-taking.
Views that talks to end fighting between the United States and Iran could make progress also affected oil trading in New York on November 3.
- Who
- Traders in Japan’s domestic commodity futures market.
- What
- Crude oil futures opened sharply lower, with the April 2027 contract down 3,670 yen per kiloliter.
- When
- The morning of November 4, 2026.
- Where
- Japan’s domestic commodity futures market.
- Why
- Traders took profits after prices reached a record high the previous week. Expectations of progress in talks to end fighting between the United States and Iran also affected oil trading.
This story does not have two clearly opposing sides.
The April 2027 crude oil contract topped 100,000 yen and reached a record high.
The previous settlement price for the April 2027 contract was recorded.
Views that talks to end fighting between the United States and Iran could progress affected oil trading in New York.
The April 2027 contract opened at 92,740 yen per kiloliter, down 3,670 yen from its previous settlement.
- Contract
- April 2027 crude oil futures
- Opening price
- 92,740 yen per kiloliter
- Change
- Down 3,670 yen from the November 2 settlement
- Previous week
- The contract exceeded 100,000 yen and reached a record high
- Market
- Japan’s domestic commodity futures market