Thesis: WTI crude at $79.50/bbl has corrected -6.11% from $84.67 as OPEC+ completed its 1.65 mb/d voluntary cut rollback on August 2, approving a final 188 kb/d increase for September and pausing further output hikes through Q4. The market is repricing from war-risk premiums toward supply-normalization fundamentals, with US production at record 13.8 mb/d and Hormuz flows partially recovering. Cushing at 18.6M bbl near tank-bottom provides a physical floor. The Iran war continues (US strikes, Hormuz contested) but the risk premium is compressing. Procurement posture: OPPORTUNISTIC — prepare layered hedges at $75-80; expect a final washout toward $70-75 before strategic re-entry.