Crude Oil is trading 3.11% down at $99.29 after investors took profits following a weekly rally exceeding 10%.
- Reports suggesting possible U.S.-Iran de-escalation reduced immediate fears of supply disruptions and removed some geopolitical risk premium, although prices remain elevated near $100.
- Reuters likewise reported that oil fell on September 11 while remaining on track for its strongest weekly performance since mid-May.
- The decline is primarily a sector-wide energy move, not a company-specific event.