USO is trading at $151.21, down 4.40%, as renewed Qatar-mediated U.S.-Iran diplomacy and de-escalation expectations ease crude’s geopolitical risk premium. - Democratic control of Congress adds uncertainty about Washington’s next steps, while oil prices reversed earlier gains. - The decline comes despite an EIA-reported 900,000-barrel U.S. crude inventory draw, suggesting supply optimism is outweighing supportive inventory data.