Crude Oil Prices Plunge Amid Profit-Taking and Easing Supply Fears

Crude oil prices have plummeted this week, with May WTI crude diving from a high of $117.73 to as low as $91.05 before stabilizing near $98.39—down over 11% since Monday. The sharp selloff comes as traders unwind positions built on earlier geopolitical tensions, locking in profits after last week’s surge above $110 fueled by Middle East supply concerns. Sources indicate the market is reassessing the risk premium attached to potential disruptions, as no confirmed supply outages or shipping interr