WTI Crude Oil futures drop 10% as Middle East talks continue.

WTI Crude Oil futures experienced significant volatility to start the week, opening above 100 per barrel before reversing sharply. The market responded to headlines regarding ongoing Middle East talks between the U.S. and Iran, which briefly pushed prices below the 85 level. The daily range of 17.30 represents the second widest trading range observed over the past year, eclipsed only by the price spike seen on March 9. While volatility measures like the CVOL index declined from their opening highs as prices retreated, they finished the session slightly higher than Friday's close. Recent positioning data indicates that speculators are continuing to increase net long positions even as price levels remain elevated and market volatility persists.