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Oil prices fall after US and Iran pause strikes

financeJul 27, 2026321,851

Brent crude futures fell 7.6% to about $89.43 a barrel and U.S. West Texas Intermediate dropped 6.7% to $83.37 a barrel after Iran said it would suspend attacks so long as the United States also refrains from striking, Reuters reported. The pause follows Washington's decision to suspend its bombing campaign after advisers warned the military was running out of viable targets and raised concerns about depleting U.S. weapons stockpiles. U.S. Ambassador to the United Nations Mike Waltz said President Donald Trump paused strikes to give diplomatic efforts space. HSBC U.S. rates strategist Dhiraj Narula said the recent oil surge had raised expectations the Federal Reserve might need to keep policy tighter longer, but stronger Fed messaging has kept longer-term inflation expectations relatively contained. The bilateral pause eased near-term market supply fears and sent oil prices below the $90 mark during trading, cutting a key source of near-term inflation risk identified by market strategists.

Nicholas Grossman
@nicholasgrossman.bsky.social

Iran still blocking Strait of Hormuz. A ship trying to run the strait this weekend hit a sea mine and blew up. US still blockading Iranian shipping. Houthi-Saudi escalation disrupting Red Sea exports. Ukraine hit more Russian oil facilities. Oil prices fell and stocks rose on the news.

55545d ago
Lauren Ashley Davis
@laurenmeidasa.bsky.social

Amid the brief pause in the war between the U.S. and Iran, Iranian Foreign Ministry spokesperson Esmaeil Baghaei told journalists at his weekly press conference on Monday that Iran has "no negotiations with America." abcnews.com/Internationa...

4745d ago
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