Crude-oil futures plunged more than 10% Monday, marking their biggest one-session loss in nearly two months, as prices felt pressure from both falling stock prices and rekindled economic worries. Crude for April delivery ended at $40.15 a barrel on the New York Mercantile Exchange, down $4.61, or 10.3%, the biggest one-day percentage drop for a front-month contract since Jan. 7
(MarketWatch)
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Don’t worry, any reflection of this at the pumps will be short lived because Obama wants to raise gas taxes drastically.