Oil prices drop 6% as markets anticipate US-Iran deal

Brent crude oil prices fell 6% on Tuesday, briefly dipping below $94 per barrel before recovering to above $96. The decline was driven by growing market expectations that the Trump administration is making progress toward a deal with Iran to end the ongoing war. Investors are betting that a ceasefire or diplomatic resolution could ease supply concerns, leading to lower oil prices. The price movement reflects heightened sensitivity to geopolitical developments in the Middle East, particularly any signs of de-escalation between the US and Iran.