After hitting 52-week highs on Tuesday of this week, Crude oil futures (/CL) were in the red for two consecutive days, resulting in the energy sector weighing on stocks in the S&P 500 index (SPX). The declines in oil come after OPEC+ failed to reach an agreement on production capacity. The United Arab Emirates are thought to be pushing against a renewed production-cap deal, and the ongoing uncertainty has certainly affected crude oil futures. Dan Deming explains more on the latest news affecting crude oil here.