Oil Prices Fall Below $100 as Hopes for Peace Deal Emerge

Following news that U.S. President Donald Trump has presented a 15-point peace proposal to Iran, investors are increasingly hopeful for an "off-ramp" to the month-long conflict that has paralyzed regional shipping.

According to market data as of Wednesday afternoon:

• Brent Crude: The international benchmark dropped by approximately 5.9%, falling below the psychological barrier to $98.28 per barrel.

• WTI (West Texas Intermediate): The U.S. benchmark saw a similar slide, falling 5.1% to trade around $87.68 per barrel.

This represents the lowest price level since the onset of the conflict on February 28. Analysts attribute this "peace premium" discount to President Trump's announcement of a five-day suspension of military strikes on Iranian energy infrastructure. While the Iranian Foreign Ministry has officially labeled the reports of direct talks as "fake news" and "psychological operations," the market has responded to the possibility of a deal brokered through intermediaries in Pakistan and the Gulf.

Despite the recent dip, fuel prices remain significantly higher than pre-war levels. In the United States, the national average for petrol has reached $3.98 per gallon, a 34% increase since the war began, while diesel has surged by 42%. Traders remain cautious, noting that any failure in the current five-day diplomatic window could lead to an immediate price rebound toward $120 or even $150 per barrel.