Global oil markets are experiencing a sustained decline, with Brent crude prices falling for the sixth consecutive session. The price of Brent crude dropped by approximately $1, settling at $98.32 per barrel. This marks the first time in over two weeks that the commodity has closed below the $100 threshold.

Market analysts attribute this downward pressure primarily to reports of increased oil supply originating from the Middle East. Additionally, investors are closely monitoring diplomatic talks between the United States and Iran, as progress in these negotiations could potentially lead to a return of Iranian oil to the global market, further easing supply constraints. While the energy sector faces this cooling trend, broader Asian stock markets have largely trended upward, fueled by investor enthusiasm surrounding the artificial intelligence sector, though Chinese indices have notably lagged behind this regional growth.