Brent crude falls below $100 as US and Iran negotiate

US maintains Strait of Hormuz blockade

The US is keeping its blockade on the Strait of Hormuz (a major route for global oil) until an official deal is reached, but talks could wrap up in days.
If the strait reopens, it could ease supply issues, though normal shipping will take about a month to bounce back.
Experts say prices dropped fast because fears of escalation are fading; plus, lower energy costs might even help bring down interest rates soon.