Brent crude falls more than 5% to about $92 as US and Iran pause attacks for a second day

Crude oil prices fell sharply in trading on Sunday evening, 26 July 2026 (4 Mordad 1405). According to CNBC, Brent crude futures dropped more than 5 percent to around $92 a barrel, while US West Texas Intermediate fell about 5 percent to near $85.

The driver was a halt in strikes between the United States and Iran for a second consecutive day, with Tehran saying it would keep its own attacks suspended for as long as the American pause holds. According to Trading Economics data, Brent settled at $92.06 on 26 July, down 6.42 percent, and fell as much as 7 percent to below $90 during Monday's session before trimming part of the loss. Sahmino's own price feed recorded Brent at $88.12 at 00:07 on Monday, 5 Mordad.

Oil had risen nearly 40 percent this month, a rally built on supply disruption spreading from the Strait of Hormuz to the Red Sea. Global oil prices feed directly into Iran's currency and gold markets through export revenue and inflation expectations.