Oil prices drop 1.7% but market remains tense amid supply uncertainty

WTI fell 1.7% to $88.9 and Brent 1.4% to $96.7 on NYMEX and ICE respectively, reflecting a modest pullback. The decline is likely driven by demand concerns or profit-taking, but the market remains unstable, suggesting persistent supply risks or geopolitical tensions. The price levels remain elevated, indicating that the underlying tightness has not resolved.