WTI Crude Oil futures began the week on steady ground, settling unchanged at 68.50 and returning to price levels observed prior to the late February conflict outbreak. Market fundamentals are shifting as refineries reopen and distribution logistics begin to normalize, raising the possibility of near-term supply gluts. Traders are closely tracking the finalization of the peace process, which has kept direct price action constrained. Meanwhile, the energy CVOL index reveals that implied volatility has retreated to six-month lows, completely unwinding a brief spike seen before the holiday weekend. This structural consolidation is accompanied by notable shifts in positioning, as speculators continue to liquidate risk by reducing net long exposure to its lowest point since the conflict started.