Brent Crude Falls 5% Below $90 as US and Iran Suspend Attacks

Brent crude slid roughly 5% to below $90 per barrel on July 27, 2026, after the US and Iran agreed to suspend attacks against each other. The US had paused its bombing campaign under Operation Epic Fury on July 25 after roughly two weeks of strikes; Iran then halted its retaliatory attacks. The drop reflects a rapid unwind of geopolitical risk premium priced into oil during the conflict.