Oil prices fall below $90

Brent crude fell below $90 per barrel for the first time since August, following a drop of approximately 6% on Monday. West Texas Intermediate (WTI) crude also slipped below $85 per barrel. Growing expectations that the conflict between the United States and Iran could come to an end intensified selling pressure in oil markets.

Brent crude has fallen sharply from the six-month high reached in late October, recording one of its largest weekly losses since April 2020 last week. Trump's remarks following his meeting with the Qatari Prime Minister helped ease geopolitical risk concerns in financial markets. Takahiro Asaoka, an economist at the Itochu Research Institute, stated that Brent crude could remain above $85 if an agreement with Iran is not reached, emphasizing that diplomatic developments will play a decisive role in determining the direction of oil prices.