A. M. 
Brent crude oil, the global benchmark, fell to $87.46 per barrel, a drop of 11.46% from the previous close of $98.96, breaking the $90 barrier following signs of a possible de-escalation in the conflict with Iran, according to data published by EFE and CNN.
The price drop came after US President Donald Trump stated that the war with Iran could end “very soon,” generating market expectations of a reduction in geopolitical tensions in the Middle East.
The president’s statements helped to partially calm investors after several days of high volatility in energy markets due to the conflict. Despite the recent drop, oil continues to trade above pre-crisis levels, when Brent hovered around $73 per barrel.
High volatility in the oil market
In recent days, the oil market has experienced sharp price movements due to uncertainty surrounding global supply.
On monday, Brent crude surpassed $100 per barrel for the first time since the 2022 invasion of Ukraine and even approached $120, driven by fears of disruptions to crude oil production or transport from the Middle East.
However, signs of potential negotiations and a possible easing of tensions led to a rapid price correction on tuesday.
Risks in the Strait of Hormuz
Despite the drop in oil prices, the market remains attentive to the situation in the Strait of Hormuz, considered one of the most important routes for global energy trade.
Saudi Aramco CEO Amin Nasser warned that a prolonged disruption of oil flow through this waterway could have “catastrophic consequences” for global oil markets.
The Strait of Hormuz is the main channel through which Middle Eastern oil reaches international markets, so any disruption to this route can cause significant fluctuations in crude oil prices.
Possible measures to stabilize the market
Faced with this uncertainty, the Group of Seven (G7) indicated that it could release strategic petroleum reserves if necessary to support energy markets and prevent further price increases.
These reserves could reach nearly one billion barrels, according to estimates cited by CNN, which would offset potential disruptions in global supply.
For now, Brent crude’s drop below US$90 reflects the immediate market reaction to signs of de-escalation in the conflict, although analysts warn that volatility could continue as long as geopolitical uncertainty persists in the region.
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