Brent crude hits 10-week low of $93.21... 16% weekly drop

Brent crude futures fell as low as $93.21 a barrel on April 9, the weakest level since early September, before trading at $93.27, down $5.05 or 5.2% on the day, while WTI dropped 4.5% to $86.71. Brent posted a 16% weekly decline, its largest since the early days of the COVID-19 pandemic. The selloff accelerated after U.S. President Donald Trump told CNN on April 8 that a new attack on Iran was "very unlikely" if negotiations progress, easing supply-risk premiums. The scale of the weekly drop matters because it signals traders rapidly unwinding geopolitical risk pricing in the energy complex. Watch whether U.S.-Iran talks produce concrete progress and whether Brent holds above the $93 area, with further downside likely if de-escalation continues.