A post by @FirstSquawk on X.

U.S. crude oil futures settled at $88.12 per barrel on Thursday, plunging $7.97, or 8.29%, in the session. The sharp single-day decline marks one of the largest percentage drops for the benchmark, reflecting heavy selling pressure across energy markets. The move matters because crude is a key input for inflation and broader risk sentiment, and a drop of this magnitude can ripple into energy equities, fuel costs and central-bank expectations. Traders will watch whether the selloff extends into the next session or stabilizes near the $88 level, with attention on inventory data and demand signals for direction.