Global Oil Prices Drop Below $100 Amid Hormuz Flows and Diplomacy

Brent crude fell below $100 per barrel, marking its longest decline sequence since June as increased tanker shipments through the Strait of Hormuz eased energy supply concerns.

Satellite data showed Saudi Arabian oil loadings from the Persian Gulf jumped over the weekend following temporary pipeline constraints, with energy chokepoint traffic running at a six-month high.

Market focus also shifted toward ongoing diplomatic efforts surrounding the U.S.-Iran conflict as world leaders gather for the United Nations General Assembly in New York.