World
U.S. Strike Pause on Iran: Brent Crude Plummets 6.4%
On July 27, 2026, the announcement of a pause in U.S. strikes on Iran caused Brent crude—the global oil benchmark—to plunge 6.43%, closing at $90.56 per barrel. Trading hit a low of $87.55 per barrel during the session before partially recovering. Iran also signaled it would suspend its own strikes, fueling hopes for de-escalation. Later that afternoon, reports from the German news agency DPA citing Pakistani intelligence sources indicated a possible limited U.S. ground offensive, triggering a partial rebound in prices.