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Brent Slides 5% to $92 as US-Iran Tensions Ease

7/27/2026

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Story summary
  • Brent crude for September fell 4.9% to $92.02 on Sunday after the United States and Iran avoided strikes in the Persian Gulf.
  • CME Group data gave traders a 36% chance the Federal Reserve will raise its benchmark rate at the next meeting, potentially curbing inflation but slowing the economy and AI data-center growth.
  • September crude fell 5.6% to $84.34, while October Brent slipped 4.6% to $87.48.