Brent falls below $100 as oil supply fears ease; Xi visit, US-Iran signals in focus

Brent crude has dropped back below $100 per barrel, a significant decline from recent highs, as markets react to easing supply concerns. The drop is supported by new signals of potential US-Iran tension reduction and the start of Xi Jinping's US visit, which may indicate improved diplomatic relations. The move suggests a shift in market sentiment toward risk-on, though the sustainability of the decline depends on geopolitical developments.