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Oil prices fall as US pauses strikes on Iran over strait of Hormuz

Brent crude drops 6% to below $91 a barrel, while shares in energy firms BP and Shell slide on FTSE 100

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Oil prices have dropped by 6% as tradersbet that a pause in US attacks on Iran could prevent an escalation in the conflict that would furtherrestrict global supply.

Brent crude, the international benchmark for oil, fell 6% to below $91 a barrel on Monday morning, after briefly dropping below $90 earlier in the morning. Futures prices hit $100 last week when the Iran-aligned Houthis attacked Saudi Arabian oil tankers in the Red Sea.

Jul 27, 2026 Oil Energy industry Commodities

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Oil Jul 27, 2026 Oil prices fall as US pauses strikes on Iran over strait of Hormuz Brent crude drops 6% to below $91 a barrel, while shares in energy firms BP and Shell slide on FTSE 100Business live – latest updatesOil prices have dropped by 6% as tradersbet that a pause in US attacks on Iran could...

Oil prices fall as US pauses strikes on Iran over strait of Hormuz

Brent crude drops 6% to below $91 a barrel, while shares in energy firms BP and Shell slide on FTSE 100Business live – latest updatesOil prices have dropped by 6% as tradersbet that a pause in US attacks on Iran could...

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Oil prices fall as US pauses strikes on Iran over strait of Hormuz

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