🛢️ Oil Crashes 23% from $117 Peak — Fastest Drop in Years
After hitting $118/barrel, Brent crude plunged to $92.93–$93.66, down over 5% today. WTI briefly dipped below $100 to **$97.6** after its $118 peak.
What happened?
• G7/IEA considering 400M barrel reserve release
• Trump hints Iran war could end soon
• Profit-taking after record surge
Volatility spike: WTI futures trading 1M+ contracts/day — markets on edge.
For crypto: Oil down = inflation fears easing = rate cut hopes returning. BTC near $70K.
Is this the peak or just a pullback? 👀