Brent oil falls 3% below $100 amid hopes for US-Iran peace deal and easing Strait of Hormuz tensions

Brent crude oil prices dropped about 3% to $98.30 a barrel, falling below the $100 mark after US President Donald Trump suggested a peace deal with Iran is "very possible." The decline follows reports that the US sent a proposal via Pakistan to end the conflict and reopen the Strait of Hormuz, reducing fears of prolonged disruption. Iran is expected to respond soon, with nuclear talks likely to follow, though skepticism remains about the feasibility of the US proposal, which Iranian officials have criticized as unrealistic.