US-Iran talks hopes push oil prices below $100

New York/London (Web Desk): Hopes of potential diplomatic talks between the United States and Iran have begun to positively impact global energy markets.

Concerns over supply disruptions have eased, pushing crude oil prices below the psychological $100-per-barrel mark.

Over the past 24 hours, the market experienced significant volatility. The international benchmark Brent crude fell sharply by 6.5%, settling at $97 per barrel. Similarly, U.S. crude prices dropped 5.5% to $87 per barrel.

The most notable movement was seen in the UAE’s Marib crude, which had previously surged to a record high of $148 per barrel amid recent tensions. It quickly retraced to close at $100.26 per barrel.

Economic analysts suggest that back-channel diplomacy between Tehran and Washington, along with signals of easing tensions, has restored investor confidence.

If the negotiations succeed and Iranian oil can more easily enter global markets, further price stability is expected.