---
title: It's Deja Vu All Over Again - Commodities React to Downgrade
description: Commodities opened down over 7 cents on Sunday night and didn't look back. HEAT fell as much as .1530 before clawing its way back to finish down .14
---

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

# [It's Deja Vu All Over Again - Commodities React to Downgrade](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/62927/It-s-Deja-Vu-All-Over-Again-Commodities-React-to-Downgrade)

 Written by [Mark Pszeniczny](https://www.burkeoil.com/value-added-services/energy-market-updates/author/mark-pszeniczny) | Aug 8, 2011 9:23:00 PM

The levee broke once again as world markets reacted to S&P's decision to downgrade the US credit rating.  Commodities opened down over 7 cents on Sunday night and didn't look back.  Trading in negative territory all day and then banging the close with about 20 minutes left in the session.  HEAT fell as much as .1530 before clawing its way back to finish down .14 to 2.8017.  RBOB  coincidentally, was holding up for much of the day as it languished down around 4 cents before falling .1136 to $2.6916.   WTI  fell  a staggering $5.57 to $81.31.  The devil is in the details though, the 2.80 level on HEAT, while breached, held for the close, same can be said for the $80 mark on WTI.  Look for a buy back on Tuesday with further downside to come the remainder of the week as money continues to get pulled out of commodities.

| RBOB CLOSE |
| --- |
|                  CLOSE       CHANGE     SEP    26916       -.1136 OCT    25515      -.1353 NOV    25265      -.1399 DEC   25154       -.1413 JAN    25195       -.1422 FEB    25330      -.1425 HEAT CLOSE           CLOSE    CHANGE SEP    28017     -.1400 OCT   28114      -.1399 NOV    28241      -.1390 DEC   28365     -.1384 JAN   28498       -.1374 FEB   28509       -.1366 |

[View full post](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/62927/It-s-Deja-Vu-All-Over-Again-Commodities-React-to-Downgrade)

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