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WTI Crude Breaks Below $90, Drops Over 10% in Two Trading Days Amid Iran Tensions

2026-06-09 23:11:06

CL-2.39%

According to Jin10, WTI crude oil fell below $90 this week and dropped over 10% in two trading days, with prices touching near $85 on Tuesday. The volatility was driven by contradictory signals: U.S. President Trump stated a peace agreement with Iran would be signed within two to three days, while U.S. Energy Secretary Wright reported a "significant increase" in vessel traffic through the Strait of Hormuz. Late Tuesday, after Trump announced the U.S. would respond to Iranian forces downing an American military aircraft, oil prices rallied sharply, narrowing losses. Weak supply-demand fundamentals have limited near-term upside potential, though a failed Iran negotiation could trigger a rebound.

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In-Depth Analysis

WTI Crude Oil Drops to $89 as Israel and Iran Pause Hostilities on June 5

Lucas Bennett9h ago

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Market Whisper20h ago

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