Crude Oil is trading 3.4% down at $92.36 after geopolitical tensions in the Middle East eased, reducing the risk premium that had recently lifted prices.
- Traders are reacting to signs of de-escalation, including an Israel-Lebanon ceasefire framework and a US House vote on Iran.
- The downward move follows profit-taking after last week’s conflict-driven spike in crude prices which had heightened supply disruption fears.