World
USA-Iran Conflict: Brent Oil Falls 5% After Mutual Strike Suspension
Brent crude oil dropped more than 5% on July 27, 2026, settling at approximately $92 per barrel, after the United States and Iran both suspended their mutual strikes over the weekend of July 26–27. Washington had conducted 13 consecutive nights of raids on Iran before this pause. An Omani mediator traveled to Tehran on July 25 to facilitate negotiations. The Houthi militia in Yemen struck Saudi Arabian oil facilities, causing maritime traffic in the Bab al-Mandab Strait to plummet to its lowest level in months.