{"id":18839,"date":"2026-07-27T13:30:36","date_gmt":"2026-07-27T08:30:36","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=18839"},"modified":"2026-07-27T13:30:36","modified_gmt":"2026-07-27T08:30:36","slug":"oil-prices-dip-over-6-after-us-iran-pause-fighting-over-weekend","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=18839","title":{"rendered":"Oil prices dip over 6% after US, Iran pause fighting over weekend"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content%2Fuploads%2Fsites%2F2%2F2026%2F07%2F135639835.jpg?quality%3D90%26strip%3Dall\" \/><\/p>\n<div>\n<p>Oil prices tumbled more than 6% on Monday after the \u200cUS and\u00a0Iran\u00a0paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.<\/p>\n<p>Brent crude futures fell $6.20, or 6.4%, to $90.58 by 0620 GMT \u200bafter briefly slipping under the key support level of $90 earlier in the session.<\/p>\n<p>US West Texas Intermediate \u200bcrude was at $83.51 a barrel, down $5.80, or 6.5%.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>A trader works on the floor of the New York Stock Exchange in New York, New York, USA, 24 July 2026. <span class=\"credit\">SARAH YENESEL\/EPA\/Shutterstock<\/span><\/figcaption><\/figure>\n<p>Both contracts are trading at their lowest \u2060levels in nearly a week after rising for the past three weeks.<\/p>\n<p>Brent had reached $100 per barrel as \u200bthe conflict, which reduced oil shipments via the Strait of Hormuz,\u00a0spilled over\u00a0to the Red Sea, hindering exports \u200bfrom the world\u2019s top exporter, Saudi Arabia, via the Bab el-Mandeb strait to Asia.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>The US ambassador to the United Nations, Mike Waltz, told \u201cFox News Sunday\u201d and other US media that President\u00a0Donald Trump\u00a0had decided to\u00a0pause US attacks\u00a0to allow more time for \u200bdiplomacy.<\/p>\n<p>\u201cOil prices fell sharply in early trading as the US and Iran refrained from further military action, \u200boffering the first tangible signs of a potential de-escalation in tensions,\u201d said ING analysts in a client note.<\/p>\n<p>\u201cThe price action in \u200coil \u2060this morning clearly reflects the market\u2019s desperation for positive news.\u201d<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>This screen grab made on July 26, 2026, from undated handout video footage released by the US Central Command (CENTCOM) on July 25, 2026, shows what CENTCOM says are operations enforcing its naval blockade against Iran. <span class=\"credit\">US Central Command (CENTCOM)\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Despite the pause in attacks, fewer than 10 commodity vessels passed through the Strait of Hormuz daily during the weekend,\u00a0shipping data\u00a0from Kpler showed.<\/p>\n<p>\u201cAny rebound in flows through the Strait of Hormuz is likely to prove slow and partial, as many shippers remain wary and \u200bwill want greater confidence in \u200btheir safety before they \u2060bring more empty ships into the Strait,\u201d MST Marquee analyst Saul Kavonic said.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>This screen grab shows what CENTCOM says are operations enforcing its naval blockade against Iran. <span class=\"credit\">US Central Command (CENTCOM)\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>In addition, ship traffic through the Bab el-Mandeb strait fell on Sunday after Yemeni Houthis \u200battacked Saudi oil installations along the Red Sea coast, although a third\u00a0Chinese supertanker\u00a0\u200bexited via the \u2060Bab el-Mandeb strait.<\/p>\n<p>However, some analysts are still expecting markets to be supported if crude supplies stay affected by ongoing shipping risks in the Middle East and the Russia-Ukraine war.<\/p>\n<p>\u201cAs the Middle East conflict widened to the Red Sea \u2060and \u200bUkrainian drones struck Russian ships and refineries \u2026 Sustained (supply) disruption would likely \u200bkeep oil prices elevated and continue to pose upside risks to global inflation,\u201d said UOB analysts in a note.<\/p>\n<p>Ukraine said it hit several \u200bRussian\u00a0oil sites\u00a0over the weekend.<\/p>\n<\/p><\/div>\n<script 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Brent crude futures fell $6.20, or 6.4%, to $90.58 by 0620 GMT \u200bafter&#8230;<\/p>\n","protected":false},"author":1,"featured_media":18840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/07\/135639835.jpg?quality=75&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-18839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-hub"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/18839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18839"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/18839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/18840"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}