New York, 28 July 2026 – Global oil prices retreated sharply from a two-month high as a diplomatic pause between the United States and Iran eased immediate concerns over further disruption to energy supplies from the Persian Gulf.
Brent crude for September delivery fell 4.9% to US$92.02 a barrel when trading resumed, extending a 3.9% decline from the previous session. West Texas Intermediate, the US benchmark, dropped 5.6% to US$84.34 a barrel.
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