USO is trading at $159.23, down 5.64%, as Iran-Qatar talks raised hopes of de-escalation and fewer Middle East supply disruptions.

  • Reports described a draft proposal and possible follow-up meeting; U.S. officials also voiced a preference for diplomacy.
  • WTI fell below $100 in reported trading, unwinding some geopolitical risk premium after recent highs.
  • OPEC+ kept December production targets unchanged.