Oil Falls for Fourth Straight Session, Sheds More Than 4% on Middle East De-escalation Hopes

Crude oil prices dropped sharply on Monday, September 21, 2026, extending losses to a fourth consecutive session as markets priced in hopes that diplomatic efforts will ease Middle East tensions. The decline exceeded 4% for the session, reflecting reduced geopolitical risk premiums tied to regional supply disruption fears. Traders pointed to renewed negotiations among key parties as the primary catalyst, with market participants unwinding bullish positions built on conflict-driven supply concerns. The pullback marks one of the steepest multi-session drops in recent months, underscoring how quickly sentiment has shifted from supply-risk hedging to demand-side reassessment.