Brent crude drops below $100 as markets weigh Iran talks

Global oil prices fell sharply as uncertainty surrounding a potential agreement between Washington and Tehran heightened concerns about the economic impact of continued disruptions to shipping through the Strait of Hormuz.

Brent crude futures dropped $4.64, or 4.48 percent, to $98.90 a barrel by 22:03 GMT. US West Texas Intermediate crude also declined, falling $4.42, or 4.58 percent, to $92.18 a barrel.

Traders have been closely monitoring negotiations between the United States and Iran, with concerns that prolonged uncertainty could weigh on global growth and energy markets.