Brent Crude Swings 13% in 72 Hours as U.S. Pauses Iran Strikes, Then Resumes With Saudi Arabia

Brent crude fell over 6% on July 26 after the U.S. suspended airstrikes on Iran, then jumped 7% on July 29 when U.S. and Saudi forces struck Iran-backed groups in Iraq blamed for drone attacks on Saudi oil facilities. The whiplash shows how a pause in one theater can coincide with escalation in another.