Oil Prices Ease After US and Iran Pause Their Attacks
Brent and U.S. crude fell after traders saw lower odds of a wider supply disruption, with shipping through the Strait of Hormuz still subdued.
- On Sunday, the United States and Iran maintained a second day without military strikes as Iranian and Omani deputy foreign ministers met in Tehran to discuss maritime navigation in the Strait of Hormuz.
- The lull follows 13 consecutive nights of U.S. strikes on coastal infrastructure, launched after Iran attempted to control shipping through the waterway and effectively paralyzed vital energy transit routes.
- U.S. Ambassador to the United Nations Mike Waltz said President Donald Trump is "giving talks some space," while Central Command noted the naval blockade of Iranian ports "remains in full effect."
- Israeli Prime Minister Benjamin Netanyahu travels to Washington on Tuesday to meet Trump, having stated he "fully" backs efforts to weaken Iran while avoiding intense military involvement.
- Mediators are pushing for a return to the interim ceasefire deal signed in June, which established a 60-day period for final terms as global energy supply concerns mount.
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347 Articles
The lull continues between Iran and the United States. However, the exchange of strikes continued between the Huthist rebels and Saudi Arabia on the one hand and between Kurdish rebels and Iran on the other. Follow our direct.
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wbap.comOil Prices Fall as U.S. and Iran Pause Attacks and Continue Talks
Oil prices declined on July 28 as the United States and Iran maintained a pause in military attacks. CNN reported that President Donald Trump said talks with Iran were going well, while Iranian officials denied that direct negotiations with Washington were taking place. Brent crude fell by more than $1 to about $86.89 per barrel. U.S. West Texas Intermediate crude dropped to roughly $81.16, placing both benchmarks at their lowest levels since Ju…
After US President Trump indicates a de-escalation in Iran's conflict, the oil price falls significantly. Nevertheless, the stock exchanges in New York are showing behaviour. This is due to the upcoming quarterly reports of the tech giants and a possible rate hike.
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