FOCUS — Brent Oil Below $100 as Markets Hope for Improvement in the Middle East

PARIS, September 21 (ATSH-AFP) – The price of Brent oil, the international oil market benchmark, fell today below $100 a barrel, while U.S. “WTI” crude dropped more than 5%.

Markets are awaiting new diplomatic developments on the Middle East war, including discussions expected to take place this week at the United Nations General Assembly in New York.

The price of a barrel of North Sea Brent oil for November delivery fell 4.02%, trading at $99.69.

Meanwhile, the price of U.S. “West Texas Intermediate” (WTI) crude for October delivery fell 5.06%, reaching $95.22 a barrel.

The price drop reflects market expectations of fresh opportunities for diplomatic negotiations and an easing of tensions in the Middle East.

Investors are closely watching international developments, as any improvement in the diplomatic situation could affect supply and demand estimates in the global energy market.