WTI drops 3.2% to $102.43 amid Middle East geopolitical tensions

WTI crude fell 3.2% to $102.43 per barrel, attributed to new geopolitical tensions in the Middle East. The price decline suggests market participants may be pricing in potential supply disruptions or risk premium adjustments, though the specific trigger is not detailed. This move matters as it reflects how geopolitical events in the region are influencing energy prices, with implications for inflation and global growth.