Global oil prices are sliding toward the $100 mark as Iran’s latest proposal to end the war with the United States has triggered profit-taking across energy markets. Recent data shows that West Texas Intermediate is hovering just above the $100 mark, trading at around $101 to $102 per barrel after falling nearly 3 percent on the day. This puts WTI dangerously close to slipping below the psychological $100 level, especially as peace signals emerge.

Global oil prices are sliding toward the $100 mark as Iran’s latest proposal to end the war with the United States has triggered profit-taking across energy markets.

Recent data shows that West Texas Intermediate is hovering just above the $100 mark, trading at around $101 to $102 per barrel after falling nearly 3 percent on the day. This puts WTI dangerously close to slipping below the psychological $100 level, especially as peace signals emerge.

Brent crude, the global benchmark, is currently holding higher at around $108 per barrel, but it has also declined nearly 2 percent from recent highs. The Brent WTI spread reflects ongoing supply tightness in global markets, even as sentiment weakens.

The decline comes after Iran sent a negotiation proposal through intermediaries, triggering profit-taking in oil markets that had recently surged on war fears. Earlier this week, Brent briefly spiked above $120, highlighting the extreme volatility driven by the conflict.

Despite the pullback, prices remain elevated due to ongoing disruptions in the Strait of Hormuz, which handles around 20 percent of global oil supply. This means any sustained decline below $100 would likely depend on a credible de-escalation in the conflict.

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