Brent crude futures dropped more than 1% amid optimism surrounding a potential US-Iran deal. US analyst Bessent anticipates energy price stabilization, coupled with a reduction in geopolitical risk premium linked to Middle East supply disruption concerns. Brent crude is currently trading in the low-to-mid $80s range, down from conflict-driven peaks. The market assigns only a 4% probability of crude oil reaching a new all-time high by September 30, and 12% probability by year-end.
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