Polymarket sees 72.5% chance of WTI crude falling to $85 by June

International oil prices are declining amid news that the U.S. and Iran have reached a principled agreement to open the Strait of Hormuz and dispose of Iran's highly enriched uranium. The drop is also influenced by an OPEC+ production increase and downward revisions to oil demand forecasts. Traders on Polymarket are pricing in a 72.5% probability that U.S. West Texas Intermediate (WTI) crude futures (CL) will fall to $85 per barrel by the end of June, a level up approximately nine percentage points from yesterday. Meanwhile, the price of CLUSDT, an on-chain WTI crude perpetual future on Aster, is currently trading at $91.81.