---
title: "Markets plummet early on hit of HVT #1"
description: the sight of pits being down almost 9 cents  early this morning was almost surreal..Crude falling .41 to $113.52, HEAT losing .0237 to $3.2521
---

[Dennis K. Burke, Inc. Market Updates ](https://www.burkeoil.com/value-added-services/energy-market-updates)

# [Markets plummet early on hit of HVT #1](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/49180/Markets-plummet-early-on-hit-of-HVT-1)

 Written by [Mark Pszeniczny](https://www.burkeoil.com/value-added-services/energy-market-updates/author/mark-pszeniczny) | May 2, 2011 7:41:00 PM

On a day that for most of us was 10 years in the making, the sight of pits being down almost 9 cents  early this morning was almost surreal.  Over the last few months we have talked about "risk" or "violence" premiums built into the market, but today it was all about the "fear" premium that was erased overnight.  However, the Market being what it is, found a way to battle back and even trade higher for much of the session.  Finally finishing lower on the day with Crude falling .41 to $113.52, HEAT losing .0237 to $3.2521 and RBOB lading the charge falling .0505 to $3.3479.  As many talked how the removal of Bin Laden from the scene was a major win and will have impacts in the future of the markets, others began to chat up the power vacuum that may occur inside Al-Quida.  Most Political figures stressed the importance of remaining vigilant in the fight on terror.  Some cities even issued new warnings. All of us can remember life and markets pre 9/11 and in this "New Normal" market, we have always said that there needs to be an event or catalyst to change sentiment and direction.  This is the biggest one we could have had. 

| RBOB CLOSE |
| --- |
|                  CLOSE       CHANGE     JUN    33479       -.0505 JUL    33062       -.0432 AUG    32679        -.0383 SEP    32340       -.0322 OCT     30792       -.0262 NOV    30426        -.0239 |

| HEAT CLOSE |
| --- |
|           CLOSE    CHANGE JUN    32521       -.0237 JUL    32669      -.0246 AUG    32817      -.0257 SEP   32977       -.0259 OCT    33124       -.0259 NOV   33263        -.0262 |

[View full post](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/49180/Markets-plummet-early-on-hit-of-HVT-1)

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