Brent oil drops below $100 as Iran offers to reopen Strait of Hormuz

Brent oil prices dropped below $100, falling toward $99 a barrel after four sessions of declines. This price decrease follows reports that Iran may reopen the Strait of Hormuz if the US lifts its port blockade. Such diplomacy could stabilize global markets and reduce price surges. Meanwhile, US President Donald Trump is scheduled to address the United Nations General Assembly in New York, where a potential meeting with Iranian counterpart Masoud Pezeshkian is anticipated by traders.