Energy stocks are seeing a significant downturn as crude oil prices pull back from recent highs. The decline in oil is linked to broader market caution and a strengthening U.S. dollar ahead of the Federal Reserve's interest rate announcement expected later today. Investors are weighing the impact of a potential rate hike on economic growth and future energy demand. The macroeconomic uncertainty is currently overshadowing recent supply concerns, leading to profit-taking in the energy sector.