Brent Slides 5% on US-Iran Pause, Yet Holds Above Fitch's $87 2026 Call

Oil fell about 5%, or $6.20, to $90.58 a barrel on July 27 after the US and Iran paused military strikes (Reuters). That still sits above Fitch's June prediction of $87 for 2026 (ANI News). The gap suggests traders doubt the pause will last or still worry about shipping disruptions near Iran. A lasting ceasefire would likely push oil below $87.