Brent crude slid on Monday, from $90.43 in the morning to $87.76 by day's end

Oil prices fell on Monday, 27 July 2026, following the mutual pause in attacks between the United States and Iran. According to Fortune, Brent crude was trading at $90.43 a barrel as of 6:35 a.m. US Eastern Time, $2.22 lower than the previous morning.

The decline deepened through the day: Trading Economics recorded Brent at $87.76 a barrel by the end of that same day. Market reports described oil falling more than 5 percent during Monday's session, though the precise size of the drop was reported differently depending on the contract type and the moment of measurement.

The fall came after Washington halted its operations following nearly two weeks of hostilities, and Iran said it would not resume attacks as long as the United States refrains from striking. Supply concerns nonetheless persist, and shipping traffic through the Strait of Hormuz remains limited. For Iran's economy, the global oil price affects both export revenue and expectations across domestic markets.