Brent crude falls to $100 a barrel, down 2.6% in 24 hours

Brent returning to the $100 line matters less as a level than as a signal that the geopolitical risk premium that has kept the benchmark elevated is being repriced rather than removed. The read-through runs through energy equities, oil-linked currencies and inflation expectations, all of which had been priced for a firmer floor. Whether this is a durable shift or a single-session move is the open question, and the next test is whether the $100 mark holds as support or becomes the ceiling of a new range.