Oil prices have fallen back below the $100-per-barrel mark after a recent spike above that level. The decline was triggered by stronger-than-expected oil flows in the Middle East and growing optimism about US-Iran diplomacy as Iran's president arrived in New York. Brent crude dropped 4% to trade around $99 a barrel, while West Texas Intermediate fell 5% to around $95. The oil market has experienced significant volatility throughout 2026.
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