Brent crude slips to around 83 dollars in early hours of Wednesday

Eghtesad Online reported at 00:14 in the early hours of Wednesday 29 July 2026 that Brent crude had fallen to 83 dollars a barrel. Sahmino's own price board put Brent at 83.76 dollars at 00:29 the same morning, down 0.14 percent from the previous day.

The retreat extends a run of consecutive declining sessions. According to market coverage, remarks by Donald Trump about talks under way with Iran, and speculation about a possible resumption of normal oil flows from the region, have been cited as the main driver of the fall.

The global oil price has two simultaneous effects on Iran's economy. It shapes the foreign currency earnings from oil exports and therefore the government's capacity to fund the budget and supply currency, and it is also one of the anchors of expectations in the domestic currency and asset markets.