Global oil prices, particularly Brent crude
Global oil prices, particularly Brent crude, declined significantly on July 27 amid reports of a temporary halt in U.S. military strikes against Iran and reciprocal statements from Tehran suspending attacks. The price drop followed weeks of escalating tensions in the Middle East that had driven oil to near $100 per barrel.
Consensus
- U.S. military strikes against Iran were temporarily suspended starting July 26.
- Iran announced it would cease attacks on U.S. military targets in the region following the pause in American airstrikes.
- Oil prices, particularly Brent crude futures, declined sharply after the announcement of a de-escalation.
- The price drop was attributed to reduced fears of supply disruptions and increased expectations of diplomatic resolution.
- Markets reacted positively to the temporary ceasefire, with Brent falling below $87 per barrel.
Points of divergence
- American forces conducted a two-hour series of strikes against Iran on the night of July 26, targeting dozens of IRGC facilities including command centers, missile launch sites, drone bases, coast guard and defense installations, as well as maritime assets. — interfax
- Despite near-total blockade of tanker movement through the Strait of Hormuz by Iran, oil exports from the Persian Gulf continue at around 13 million barrels per day according to Rystad Energy. — interfax
- A Qatari LNG tanker passed through the Strait of Hormuz on July 29 with Tehran's permission, according to Fars News Agency and Kpler data. — interfax
- The price of October Brent futures fell below $84 per barrel at 9:57 MSK, reaching a low of $83.66 before rebounding to $84.70 by 10:37 MSK. — kommersant
- Brent fell below $87 per barrel for the first time since July 20, 2026, according to ICE trading data. — tg_tass_agency
- The price of October Brent futures dropped by 8% at one point, reaching a low of $84.65 per barrel. — vedomosti
- Brent fell below $90 per barrel after dropping 7.4%, with prices dipping to $85.50 during the session before recovering to $91.70. — meduza
- The U.S. paused airstrikes on July 26 following nearly two weeks of continuous attacks, and Iran responded by halting its strikes against U.S. targets. — vedomosti
- U.S. temporarily halted strikes to avoid disrupting negotiations between Tehran and Oman. — vesti
- President Trump ordered the pause due to concerns over depleted Patriot missile and air defense stockpiles in the region. — vesti
Coverage (16 sources)
- Brent подешевела до $89,8 за баррель — Интерфакс
- Oil prices fluctuate between growth and decline on Thursday — Интерфакс
- Brent crude drops to $86.32 per barrel — Интерфакс
- Brent crude oil price fell below $84 per barrel — Коммерсантъ
- Brent oil prices fell to $87.20 per barrel — Интерфакс
- Brent oil price on the ICE exchange fell below $87 per barrel for the first time since July 20 — Коммерсантъ
- Brent crude oil price on London's ICE exchange drops below $87 per barrel for the first time since July 20, 2026 — ТАСС (Telegram)
- Brent oil trades below $89.6 per barrel — Интерфакс
- Brent oil price fell by 8% — Ведомости
- Brent oil price drops below $85 — Коммерсантъ
- Brent oil prices fall below $90 amid pause in US and Iran strikes — Meduza
- Brent oil prices fell to $92.09 after the US and Iran suspended mutual strikes — Интерфакс
- Brent oil price fell to $85 per barrel — Коммерсантъ
- Brent oil prices drop after US strikes on Iran are suspended — Ведомости
- Oil prices dropped by more than 5% after US strikes on Iran are suspended — Вести
- Oil prices fall after US strikes on Iran are suspended — Коммерсантъ
Key entities
- Iran
- USA
- Moscow
- ICE
- INTERFAX.RU
- Middle East
- Bloomberg
- ICE Futures
- Donald Trump
- NYMEX
- Ormuz Strait
- VS
- Tehran
- Central Command
- Brad Cooper
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