Oil prices extend losses; WTI crude falls over 3% to $100.94 a barrel

The scale of the drop matters more than the level: a single-session move of this size in both WTI and Brent signals that positioning, not just fundamentals, is being unwound. Both benchmarks falling in tandem suggests a broad reassessment of demand or risk appetite rather than a localized or grade-specific story. What's worth watching is whether this proves a one-day flush or the start of a sustained repricing — the breadth across both contracts is the tell.