WTI Crude Falls 3.2% to $84.88 on Hormuz Deal Speculation

U.S. crude futures dropped 3.2% to $84.88 per barrel on June 12, extending a 6% weekly decline as traders priced in a potential U.S.-Iran deal to reopen the Strait of Hormuz. Earlier in the session, prices had swung more than 4% amid the geopolitical headlines, moving from levels near $89. Three educational articles published the same day used the oil volatility to explain futures contracts, types, pricing mechanics, leverage, and how benchmarks like WTI and Brent transmit shocks to equities and risk sentiment.