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FrontRow · Jul 28, 2026

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Oil prices extended their losses Tuesday after a pause in fighting between the U.S. and Iran held, raising hopes for a de-escalation in the Middle East conflict that has upended energy supplies.bInternational benchmark Brent crude futures for September delivery fell more than 2% to $86.52 a barrel. U.S. West Texas Intermediate crude futures for September delivery dropped 2.3% to $80.71 a barrel. While Tehran has rejected reports that it has agreed to a 10-day ceasefire with the U.S., there has been a temporary pause in hostilities. That follows reports of diminished U.S. munitions. President Donald Trump, who on Friday told Axios that he was considering a "massive attack" on Iran, later set those plans aside amid arms stockpile concerns, The New York Times reported.

Oil prices extended their losses Tuesday after a pause in fighting between the U.S. and Iran held, raising hopes for a de-escalation in the Middle East conflict that has upended energy supplies.bInternational benchmark Brent crude futures for September delivery fell more than 2% to $86.52 a barrel. U.S. West Texas Intermediate crude futures for September delivery dropped 2.3% to $80.71 a barrel. While Tehran has rejected reports that it has agreed to a 10-day ceasefire with the U.S., there has been a temporary pause in hostilities. That follows reports of diminished U.S. munitions. President Donald Trump, who on Friday told Axios that he was considering a "massive attack" on Iran, later set those plans aside amid arms stockpile concerns, The New York Times reported.

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