Brent crude has shed $16 per barrel over the past eight trading sessions, marking a decisive break in the energy market's trajectory.
The steep decline reflects a rapid repricing of Middle East supply risks as diplomatic channels appear to be opening between the United States and Iran.
The sell-off accelerated on Thursday, with crude prices falling approximately 3% to reverse a week of gains.
The sell-off accelerated on Thursday, with crude prices falling approximately 3% to reverse a week of gains.
The move comes as reports indicate former U.S. President Donald Trump has signaled hesitancy to resume full-scale military action against Iran.
This shift in Washington's posture has significantly reduced the probability of a major supply disruption in the Strait of Hormuz, the key chokepoint for global oil flows.
The $16 drop represents a substantial correction from the levels seen just weeks ago, when Brent briefly broke $100 amid escalating Red Sea shipping attacks and fears of broader regional conflict.