December WTI Crude Oil futures fall amid diplomatic talks.

Bob Iaccino analyzes the recent price action in December WTI Crude Oil futures, detailing the second consecutive session of declines and a drop of nearly 4% from the October 23 high. The discussion covers how diplomatic talks in Tehran between senior officials from Saudi Arabia, Turkey, Pakistan, and Iran are easing risk premiums, alongside reports that Middle East oil flows are recovering toward pre-war levels and allowing inventories to rebuild. Additionally, the analysis previews upcoming weekly inventory data, highlighting expectations for a 300,000-barrel draw in crude inventories against distillate stocks that remain significantly below the 5-year average.