Stock Market Today: Oil Cools Off, But Stocks Remain Stymied

Peace talks were among several factors that weighed on crude prices Monday, but rising Treasury rates kept equities grounded.

A black-and-white photo of oil drums spilling out oil
(Image credit: Getty Images)

Recently red-hot energy prices were hosed down on Monday, but that gave only limited relief to equities, and only in a few select quarters.

U.S. crude oil futures plunged 5.8% to $103.01 per barrel, heading lower early in the day as Ukraine and Russia conducted fresh peace talks. Further downward pressure came from COVID-related lockdowns in China's Shenzhen and Jilin provinces, as well as reports indicating that the U.S. might ease sanctions on Venezuela to get more oil on the market.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for, and the Managing Editor for before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.