Oil prices fell to their lowest level in two weeks as markets assessed the possible reopening of key transportation routes and signs of diplomatic progress involving Iran. Brent crude futures were reported at $98.33 a barrel, while West Texas Intermediate (WTI) stood at $89.92. Saudi Arabia’s East-West Pipeline resumed operations at a reduced rate, and Iran indicated it might reopen the Strait of Hormuz within a week if certain conditions are met. The developments have eased concerns about supply disruptions and geopolitical tensions that have contributed to recent oil-price volatility. In prediction-market activity, the probability of crude oil reaching a new all-time high by September 30 fell to 0.5%. Markets will focus on confirmed actions by Saudi Arabia and Iran on pipeline operations and strait access, as well as developments involving Saudi Energy Minister Abdulaziz bin Salman Al Saud and OPEC leadership. If geopolitical conditions stabilize, current pricing may continue to reflect limited near-term upside for crude oil reaching new highs.