Prices last week in WTI Crude Oil Futures fell 2.7% and closed at $52.50 per barrel. Last week supply concerns pressured energy markets. Although, after a tanker explosion on June 13 prices and volatility were briefly higher.
A massive move higher in interest rates futures (lower in yield) and abnormal call skews has created a trading opportunity. It's a risk-off trade, but it's also a view that the political drama and Trump battle with Fed Chairman Jerome Powell is ultimately going to fade.