Oil prices drop 3% to under $90
Oil prices are declining after four days of increases, with WTI crude lower by 3% today to drop back under $90.
The decline in oil prices is also affecting other asset classes, with bond yields coming off the highs.
The 10-year Treasury yields are down 1.2 bps to 4.69%, while in Europe, 10-year yields in Germany and France are also moving down.
Despite the decline, WTI crude is still poised to end the week over 9% higher at current levels, following a 14% gain last week.