Brent crude fell 2.0% to $97.36/bbl and WTI dropped 2.6% to $92.19/bbl amid US‑Iran negotiation hopes.
President Trump said Washington and Tehran are “very close” to a deal, with Iran pledging no nuclear weapon for 20+ years.
Oil stays under $100 as traders eye a 10‑day Israel‑Lebanon ceasefire and possible Hormuz reopening, which had cut ~13 million bpd.
IEA and OPEC warn of softer demand, and analysts say strait control remains the main flashpoint, with talks possibly lasting six months.