LondonBrent crude fell 8.55% to $103.73, Russian state news agency TASS reported.
Brent traded below $104 for the first time since 15 October, trading data show.
The January contract on ICE pared losses to $104.31 minutes later, while December WTI fell 7.62% to $96.19.
Polymarket traders price a US-Iran Hormuz deal by 31 December at 40%.
How each outlet framed it
- TASS
- reports the Brent drop as a first breach below $104 since October 15, then notes it pared losses to $104.31 minutes later
Sources: TASS