WTI crude fell below $90 per barrel for the first time since May 7, dropping over 6% in a day. Here's why crypto investors should care about cheaper oil.

Global crude benchmark Brent fell as much as 5.2% to $98.12 a barrel, while West Texas Intermediate was near $92.

Oil prices fell sharply as traders priced in growing hopes that a U.S.-Iran deal could reopen the Strait of Hormuz and ease the global supply shock.

Crude falls nearly 6% while Trump says Strait of Hormuz blockade will stay in place until agreement finalised

Analysts urge caution as US and Iran remain divided on key issues

Brent crude futures down 5.5% to lowest level in two weeks and stock markets rise