Brent falls below $100 after Iran offers conditional Hormuz reopening

$BRENT has fallen below $100 after Iran reportedly offered to reopen the Strait of Hormuz within seven days if the U.S. begins lifting its port blockade and halts military operations.
The reported proposal comes as the blockade has halted Iranian crude exports, increasing pressure on Tehran to negotiate.
A reopening of Hormuz would reduce a major source of geopolitical risk for global oil supply, although the proposal remains conditional and depends on an agreement between the parties.