Brent crude fell about 13% to around $95 a barrel, slipping back below the $100 mark after weeks of conflict-driven gains. The six-week Iran war had fueled concerns over inflation, trade disruption and broader damage to the global economy, as the Strait of Hormuz is one of the world’s most important energy chokepoints. Tehran had effectively blocked the route, adding to the volatility across oil markets. The price fall suggests investors are betting that the truce could restore some stability, though uncertainty remains over how durable the ceasefire will prove to be.