Energy & Petrochemicals #oil prices#crude
Oil Prices Tumble 5% on US-Iran Pause, Fueling Hopes of Diplomatic Breakthrough
Oil prices fell sharply on Monday after the US and Iran paused hostilities over the weekend, sparking hopes of a diplomatic solution. Brent crude dropped 4.52% to $92.41 a barrel, while WTI fell 4.81% to $85.01. The retreat follows three weeks of gains, though shipping through the Strait of Hormuz remains subdued.
Jul 27, 2026 1 source