Oil Drops Below $100 on US-Iran Deal Optimism, Saudi Pipeline Restart

Brent crude fell 1.09% to $99.25, extending losses below $100, driven by Trump's claim that the US and Iran are nearing a deal and Saudi Arabia's initial steps to reactivate the East-West pipeline after drone attacks. The diplomatic prospect and supply restoration signal easing supply-side risk, though the deal's terms and pipeline timeline remain uncertain.