Brent crude falls 3% to $102.99, WTI drops nearly 3% to $97.68

The move matters less for the size of the drop than for its breadth: both benchmarks sliding in the same session points to a common macro driver rather than a contract-specific squeeze. For crypto and RWA desks, the read-through runs through the inflation and rate channel, since energy is the input that most directly feeds headline CPI and therefore the policy expectations that have been steering risk appetite. Whether the decline extends into a sustained trend, or is simply a single-session repricing, is the open question.