Brent crude oil breaks below $100 per barrel, US-Iran diplomatic efforts ease Middle East tensions concerns

Gate News Update: On March 25, Brent crude oil (one of the global oil price benchmarks) fell below $100 per barrel. Previously, the U.S. proposed a 15-point plan aimed at ending the war with Iran, and reports indicate mediators are pushing for a meeting between the U.S. and Iran later this week. Saxo Bank analyst Charu Chanana said, “Wars rarely end before the market hits bottom. Once the likelihood of further escalation begins to decline, investors tend to take action.” Despite this, attacks continue on both sides, and the Strait of Hormuz (a critical global oil shipping route) remains effectively closed. Iran has stated that only “non-hostile” vessels are allowed to pass through the waterway.