Brent crude futures for December delivery dropped 1.65% to $102.99 a barrel, while U.S. West Texas Intermediate futures for November declined 1.92% to $90.09 per barrel. This fall follows President Donald Trump's announcement of an "energy ceasefire" between Russia and Ukraine, where both parties agreed not to target each other's energy facilities. Additionally, Iran reportedly offered to mediate between Yemen's Houthis and Saudi Arabia, further easing supply concerns. Trump also stated that Russia would supply over 4 million tons of diesel to the global market under a deal with Putin. However, oil prices are expected to remain volatile due to the ongoing U.S.-Iran conflict and the strengthening of Hurricane Isaias to Category 3, which could impact U.S. energy supplies.