Oman - Iran talks reach final stage | WTI Gaps Down -9% | Complacency Remains King

Crude gapped lower Sunday night, down as much as 9% at one point, after Iranian officials said their talks with Oman were headed to a final stage on Monday. The weekend also brought a strange one-two punch from Trump, who announced a planned strike on Iran and then called it off in the same breath, plus a tanker near Oman that caught fire under murky circumstances. Futures are now hovering around $79, retesting Sunday's lows, with the market clearly leaning into the bearish, deal-is-close narrative even though nothing is signed yet.Crude Oil pumpjack at sunset by Zbynek Burival via Unsplash