I just noticed that the commodities market is having a pretty weak day today. Oil is falling sharply — WTI dropped 3.28% and Brent fell 3.22%, with the oil barrel trading well below expectations today. Meanwhile, precious metals are also not doing well, with gold down 1.62% and silver suffering an even sharper decline of 7.89%.

In the crypto side, volatility indices also reflect this risk aversion movement. BVIX fell 6.04% and EVIX declined 5.73%, suggesting that traders are less nervous about potential sharp moves. But it’s interesting to see how everything is correlated — when traditional assets weaken, we see this dynamic repeat in volatility indices.

Overall, it seems to be one of those days where the oil barrel follows the general trend of weakness in the markets today. It’s worth keeping an eye on how this unfolds in the coming days.