A post by @FirstSquawk on X.

Brent crude fell below $98 a barrel after jumping nearly 4% in the prior session, as traders priced in renewed diplomatic efforts to ease Middle East tensions. The pullback signals that markets are unwinding some of the geopolitical risk premium built up during the latest escalation. US crude also moved lower alongside the international benchmark, though the tweet did not specify the exact price level. The move matters because oil is a key input for inflation and broader risk sentiment, and a sustained de-escalation could soften energy costs across the global economy. What to watch next is whether diplomatic progress translates into concrete action, and whether Brent holds below the $100 threshold or rebounds if talks stall.