Crude Oil Prices Plunge Over 9% to Below $90/bbl as US Pauses Iran Strikes

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Geopolitics

27 July 2026 at 7:31 pm

Crude Oil Prices Plunge Over 9% to Below $90/bbl as US Pauses Iran Strikes

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Summary

Crude oil prices dropped over 9% to below $90/bbl after the US paused strikes on Iran and Tehran signaled restraint, easing fears of prolonged supply disruptions. Reports also indicated China's support for US-Iran peace talks, providing relief to global equity markets.

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