Oil Plummets over 3% as Stockpiles Override Iran-Israel Conflict

Only two days ago analysts were predicting oil over $100 a barrel, but by Wednesday midday, crude prices were nose-diving by close to 3% as demand concerns heavily outweighed the prospect of a wider regional conflict in the Middle East.  At 12:41 p.m. ET on Wednesday, Brent crude oil was trading down 3.18% at $87.16, for a $2.86  per barrel loss on the day, while the U.S. crude oil benchmark, West Texas Intermediate (WTI), was trading down 3.25% at $82.59, for a loss of $2.77 per barrel on the day.  Earlier on Wednesday,…