The price of Brent crude oil plummeted, falling below the $100 per barrel mark after reaching $114 on Sunday night. This followed US President Donald Trump's announcement of “good and productive” meetings with the Iranian government. As soon as the president shared the news on social media, markets reacted positively, causing a sharp drop in Brent. The price fell by 14% in a short time, as reported by the Argentine News Agency. This move halted the price escalation and the threat of attacks on key energy facilities. It is speculated that this announcement will allow the resumption of oil supplies through the Strait of Hormuz, which eased the price pressure. Over the weekend, investment bank Goldman Sachs raised its 2026 price forecast to $85 from the previous $77. The institution expects that prolonged disruptions in crude oil shipments through the Strait of Hormuz and an increase in strategic reserves will lead the market to adopt a more restrictive and risk-averse stance. However, the situation took a different turn on Monday morning, and the effects of the announced decisions are now awaited.
