WTI Crude Oil futures slide 7% as U.S.-Iran tensions ease.

Todd Colvin of Mark IV Brokerage analyzes the sharp pullback in WTI Crude Oil futures, which dropped 7% to start the week near 82.30 following an easing in U.S.-Iran tensions. Colvin details how prices reversed lower by more than 10% since Friday, cutting into the broader 40% rally seen from early July through mid-month. He examines the corresponding move in volatility, noting that the CVOL index turned lower alongside crude prices after rising earlier in the month. Finally, Colvin breaks down positioning data, highlighting that speculators added to their net long positions for the first time in two months prior to the recent price reversal.