WTI crude futures have fallen sharply as concerns over a significant supply disruption in the Middle East ease. Hopes of diplomatic progress between the United States and Iran at the UN General Assembly are reducing geopolitical risk premiums. [1, 5, 7, 15] Furthermore, reports of increased oil shipments from Saudi Arabia through the Strait of Hormuz are alleviating immediate supply fears that arose after recent attacks on Saudi infrastructure. [5, 8, 14, 16]