WTI Crude Plummets Amid Escalating US-Iran Conflict
The West Texas Intermediate (WTI) oil price has fallen to near $99.00 despite the escalating conflict between the US and Iran.
Iranian leaders have reportedly vowed to continue fighting, viewing the conflict as an existential threat.
Strategists at BNY note that President Trump is justifying the economic costs of the conflict by linking it directly to non-proliferation goals.