WTI crude surges as US-Iran peace talks falter

West Texas Intermediate (WTI) crude oil prices are surging as peace negotiations between the U.S. and Iran near collapse. On the decentralized prediction market Polymarket, traders now predict a 92.8% chance that WTI crude will surpass $100 per barrel in May, an increase of roughly 43.5 percentage points over the past 24 hours. Meanwhile, the price of CLUSDT, an on-chain WTI crude perpetual futures contract, is trading around $97.2, according to Aster.