Oil falls 3% to below $100/barrel but eyes weekly rise amid Trump's threats to Iran — Latest updates

Brent crude futures fell 3.57% to $97.10 per barrel, while WTI dropped 3.41% to $89.05, even as both benchmarks headed for weekly gains of over 10% and nearly 8% respectively. The price action reflects escalating geopolitical tensions, with US President Trump threatening a massive attack on Iran and supply disruptions in the Strait of Hormuz and Red Sea nearing peak levels. JPMorgan estimates that each additional month of oil supply disruption could add around $7 to $8 per barrel to Brent prices, potentially pushing monthly averages to around $114 if disruptions extend to three months.