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FrontRow · Jul 27, 2026

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World shares were mostly higher Monday and oil prices slipped nearly 7% as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal. The Pentagon has not openly discussed the pause in attacks on Iranian coastal areas and infrastructure after nearly two weeks of escalating fighting, but U.S. Ambassador to the United Nations Mike Waltz said Sunday on "Face the Nation with Margaret Brennan" that it was aimed at "giving diplomacy some space." Markets reacted with relief. U.S. futures surged early Monday and the price of a barrel of Brent crude, the international standard, dropped 6.8% to $85.49. U.S. benchmark crude dropped 7% to $83.06 per barrel. "Oil's sharp retreat at the Monday open did more than knock a few dollars off the barrel. It loosened the geopolitical knot that had been tightening around equities, currencies, bonds and central banks for most of July," Stephen Innes of SPI Asset Management said in a commentary.

World shares were mostly higher Monday and oil prices slipped nearly 7% as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal. The Pentagon has not openly discussed the pause in attacks on Iranian coastal areas and infrastructure after nearly two weeks of escalating fighting, but U.S. Ambassador to the United Nations Mike Waltz said Sunday on "Face the Nation with Margaret Brennan" that it was aimed at "giving diplomacy some space." Markets reacted with relief. U.S. futures surged early Monday and the price of a barrel of Brent crude, the international standard, dropped 6.8% to $85.49. U.S. benchmark crude dropped 7% to $83.06 per barrel. "Oil's sharp retreat at the Monday open did more than knock a few dollars off the barrel. It loosened the geopolitical knot that had been tightening around equities, currencies, bonds and central banks for most of July," Stephen Innes of SPI Asset Management said in a commentary.

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