Diplomatic De-Escalation Sends Brent Crude Prices Tumbling

Brent crude oil prices plummeted by over 3% on Tuesday, breaking below the $90-per-barrel threshold as diplomatic efforts between Washington and Tehran show signs of de-escalation.

Pakistan's mediation has played a crucial role in this development. On Monday, Army Chief General Asim Munir and Interior Minister Mohsin Naqvi visited Iran, where they held discussions with Iranian President Masoud Pezeshkian on preventing further escalation and reopening the Strait of Hormuz.

The US State Department is also preparing to redeploy diplomatic personnel to embassies in eight Middle Eastern countries, including Israel, Lebanon, and Saudi Arabia. This move is seen as a shift from military confrontation toward sustained economic pressure.