Brent Flash Crashes $6 on Conflicting US-Iran Peace Reports, Recovers to $104

Brent crude swung violently, dropping from $107.24 to $100.80 before recovering to ~$104, following conflicting reports on U.S.-Iran peace negotiations and an alleged U.S. strike on Iran's Qeshm Island near the Strait of Hormuz. The move extends Monday's 7.6% decline, indicating extreme market sensitivity to headline risk. Uncertainty over the actual status of talks and strikes is driving volatility, with implications for global energy supply and risk sentiment.

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