Oil prices fell sharply, with Brent crude dropping $6 intraday to $87.16 a barrel, down 6.45%, and WTI crude September futures sinking $6.70 to settle at $82.61 a barrel, a 7.50% daily decline. Earlier data cited WTI at $83.17, down 6.7% intraday, before the U.S. benchmark settled lower. The move reflected a broad selloff across major oil benchmarks and, according to the source, challenged a prevailing soft-landing market narrative.