Oil Prices Plummet Below $100 Amid Signs of Middle Eastern Supply Recovery

International oil prices fell below $100 a barrel on September 22 due to expectations of a recovery in crude oil supplies in the Middle East.

Brent crude futures for November delivery on London's ICE Futures Exchange settled at $99.25 a barrel, down 1.1% from the previous session, marking the first time Brent crude has fallen below $100 since September 8 when it reached $97.92.

At the New York Mercantile Exchange, West Texas Intermediate (WTI) crude for October delivery closed at $94.59 a barrel, down 1.2% from the previous day.

The market focused on signs that disruptions to Middle East crude supplies were easing, following U.S. President Donald Trump's statement that more crude oil than ever before is passing through the Strait of Hormuz under U.S. protection.