Brent crude oil tops $100 as market watches for Trump administration pressure to de-escalate Iran conflict

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Brent crude oil traded slightly lower in early Asian hours after closing above $100 per barrel, but remains on track for a weekly gain of over 12% as threats to Red Sea shipping fuel concerns over further supply disruptions. The global benchmark fell 1.3% to $99.39 a barrel, while WTI crude futures dropped 1.4% to $90.89. Analysts at ING said the key question is how high oil needs to go before the Trump administration faces pressure to return to the negotiating table. They noted that if Brent approaches $120 per barrel, pressure to de-escalate would increase significantly, based on price spikes during the early stages of the conflict. For Iran, the more pressing issue is not the oil price level but how long it can withstand a sharp decline in oil revenue under the U.S. blockade.