{"id":19956,"date":"2026-07-28T15:17:30","date_gmt":"2026-07-28T10:17:30","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=19956"},"modified":"2026-07-28T15:17:30","modified_gmt":"2026-07-28T10:17:30","slug":"oil-touches-over-one-week-low-as-pause-in-attacks-brings-hope-of-us-and-iran-deal","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=19956","title":{"rendered":"Oil touches over one-week low as pause in attacks brings hope of US and Iran deal"},"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<\/p>\n<div>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->By Anushree Mukherjee<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->July 28 (Reuters) &#8211; Oil prices extended losses on Tuesday, hitting their lowest levels in more than a week as hopes for a resolution to the U.S.-Iran conflict grew and traders continued \u200cto assess developments in the Middle East.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Brent crude futures were down $2.53, or 2.86%, at $85.83 by 0934 GMT. \u200cU.S. West Texas Intermediate crude was at $80.63 a barrel, down $1.98, or 2.40%.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Both benchmarks fell to their lowest since July 17.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->U.S. President Donald Trump said \u200bon Monday Washington was having &#8220;good talks&#8221; with Iran and that there was the chance of a resolution. However, he said U.S. strikes would resume if negotiations failed while Iran issued similar comments about retaliation.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->&#8220;While flows of vessels through the Strait of Hormuz remain low, the market hopes the situation improves based on new talks between Oman and Iran on a new mechanism \u200cfor Hormuz,&#8221; UBS analyst Giovanni Staunovo said.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Oman \u2060has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz with voluntary fees, a Gulf source told Reuters on Tuesday.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->The Strait of Hormuz handles \u2060roughly a fifth of global oil consumption and is one of the world&#8217;s most important oil shipping chokepoints.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->&#8220;There has been no improvement in tanker flows through the Strait of Hormuz. If this move lower is to be sustained, we will need to see \u200ba \u200brecovery in flows through the strait,&#8221; ING analysts wrote in a \u200bnote.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->The conflict has disrupted shipping beyond the Strait \u200cof Hormuz, with traffic through the Bab el-Mandeb strait also affected. Prices surged last week on fears the attacks could lead to the closure of the Bab el-Mandeb route, the second-most important oil shipping chokepoint after the Strait of Hormuz.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->However, the number of vessels passing through Bab el-Mandeb rose to 28 on Monday, a four-day high, while traffic through the Strait of Hormuz remained low, according to Kpler shipping data.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Analysts warned the risks to supply disruptions spreading to the \u200cRed Sea remain elevated after Saudi Arabia said it shot down \u200bdrones aimed at petroleum targets, including in Riyadh. It said Iran-backed armed groups \u200bhad launched the weapons from Iraq, and it \u200breserved the right to respond.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Separately, Iran&#8217;s Houthi allies in Yemen said they had targeted the East-West \u200cPipeline carrying oil to Saudi Arabia&#8217;s main Red \u200bSea port of Yanbu in \u200bretaliation for Saudi drone incursions.<!-- HTML_TAG_END -->  <\/p>\n<p class=\"text text-block paragraph text-left neo-font-paragraph-xl-reg  yf-18d6y07\" style=\"text-decoration: none; font-style: normal; text-transform: none; text-align: inherit; font-variant-numeric: normal;\"><!-- HTML_TAG_START -->Goldman Sachs expects Brent to moderate to $80 by year-end if Hormuz fully reopens by the fourth quarter, but Red Sea disruptions and attacks on Saudi oil infrastructure may pose a new source \u200bof upside risk for crude and refined \u200cproducts prices.<!-- HTML_TAG_END -->  <\/p>\n<\/p><\/div>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>By Anushree Mukherjee July 28 (Reuters) &#8211; Oil prices extended losses on Tuesday, hitting their lowest levels in more than a week as hopes for a resolution to the U.S.-Iran conflict grew and traders continued \u200cto assess developments in the Middle East. Brent crude futures were down $2.53, or 2.86%, at $85.83 by 0934 GMT&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":19957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s.yimg.com\/lo\/mysterio\/api\/032E76CB2CA4C5AABBBC1FC8B18A2E4C4E2F6BC56238EF57165C09EC57CDB8CB\/subgraphmysterio\/resizefill_w1200_h800;quality_80;format_webp\/https:%2F%2Fmedia.zenfs.com%2Fen%2Freuters.com%2F2bed295dd50f62765154fd2e103e9329","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-19956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-trending-viral-news"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/19956","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=19956"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/19956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/19957"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}