WTI December crude settles down 7.66 dollars, over 7.35%, at $96.46 a barrel

The scale of the single-session drop in WTI, more than 7%, matters less for the headline number than for what it says about positioning: a market that had closed above $104 giving back that much in one session suggests crowding being unwound rather than a calm repricing. The move lands alongside a softer natural gas settlement, so the energy complex is moving together rather than on crude-specific supply news, which is the detail worth noting. Whether the intraday low near $95 holds as a reference point, or the selloff extends into the next session, is the open question.