US WTI crude futures dropped 4.51% on September 21 to settle at $95.78 per barrel on the NYMEX, after opening near $101. This nearly $4.50 single-session decline marks one of the sharpest daily drops this year, driven by easing geopolitical tensions in the Middle East and a recovery in Saudi crude exports to over 4 million barrels per day in September. The international benchmark Brent crude was still trading between $100 and $102, maintaining a modest premium over US domestic grades. This correction could ease inflation expectations, as oil-importing economies benefit from a $95 barrel rather than a $105 barrel.
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