The price of Brent crude oil dropped 12% overnight, according to market reports, following an unexpected pause in the US-Iran conflict. The US halted operations on July 24 after 13 nights of strikes, and Iran has stopped retaliatory fire. Talks are underway, and the Strait of Hormuz remains restricted.
The price of Brent crude oil fell 12% overnight, according to market reports, as an unexpected pause in the US-Iran conflict eased fears of supply disruption. The drop follows the US decision to halt operations on July 24 after 13 consecutive nights of strikes against Iranian targets. Iran has stopped retaliatory fire and indicated it will maintain the pause as long as the US does.
Talks between the parties are underway, and the Strait of Hormuz — a critical chokepoint for global oil shipments — remains restricted. On July 28, Prime Minister Benjamin Netanyahu met with President Donald Trump, a meeting that could shape the next phase of diplomatic efforts.
The decline extends a period of sharp volatility in oil markets. As The Zioneer has reported over recent weeks, Brent crude has swung from spikes above $85 during the height of the Hormuz closure to declines on signs of de-escalation. The current 12% drop is one of the largest single-day moves in the conflict's duration.
Source and signal
A single-sourced dispatch is never rated Confirmed or Strong. Its Signal strengthens only when a second, independent source corroborates it.
- Open-source intake