Oil slides: WTI drops 3.0% to $93.18, Brent falls 2.5% to $96.78

A single-session slide of this size in both benchmarks is a sentiment move, not a supply story — nothing in the tape points to a fundamental shift, which makes the speed of the repricing the notable part. For crypto and RWA desks, energy is the macro input that tends to transmit through inflation expectations and the dollar rather than through tokenized commodity products directly. Whether this pullback holds or reverses is the open question, and it matters more for the broader risk backdrop than for oil-linked instruments themselves.