Crude Oil is trading 4.4% down at $85.36 as a weak demand outlook and easing geopolitical risks drive a sharp reversal from recent highs.
- Recent agency outlooks forecasting slower global demand through 2026 have prompted traders to reassess consumption and growth expectations.
- Easing geopolitical supply risks have led to a reduction in risk premiums, contributing to a broad pullback across the oil complex after prices spiked above $100 last week.