Oil prices fell today trading down 2% as Saudi Arabia pledged to help stabilize oil markets if there were any disruptions as a result of the ongoing middle east conflict. Mercuria sees prices hitting $100/bbl if the situation escalates further. “The only thing that is becoming clear for energy traders is that the road for the global growth recovery is getting rockier,” said Edward Moya, senior market analyst at OANDA, noting the “U.S. consumer is weakening (and) Germany might be headed for a deeper recession.” U.S. investors will be looking ahead to the release of the Federal Reserve’s September policy meeting minutes due later on Wednesday for clues on future interest rate decisions. Interest rate hikes to tame inflation can slow economic growth and reduce oil demand. WTI traded down $2.48 or -2.9% to close at $83.49. Brent traded down $1.83 or -2.1% to close at $85.62.