Brent crude oil prices have fallen to $100 per barrel. This decline follows an earlier intraday drop of 1.68%, which brought the price to approximately $103 per barrel.
The market reaction is driven by speculation surrounding potential diplomatic negotiations between the United States and Iran. Investors are assessing the possibility that an agreement could mitigate risks of supply disruptions in the Gulf region.
The geopolitical risk premium previously factored into oil prices is currently softening. Market expectations for crude oil reaching an all-time high by December 31 have shifted significantly.
The probability of reaching a new record high by the end of the year is now estimated at 9.5%. This figure represents a decrease from the 14% probability recorded 24 hours prior.
