Oil Price Today (July 27): Crude oil dips 5%, below $95 as US pauses strikes on Iran. What are experts say
- Posted on July 27, 2026
- By Business News Today
- 4 Views
- 1 min read
In brief
Global oil markets experienced a significant correction as crude prices retreated from recent highs following de-escalation tensions between the US and Iran. Brent crude fell below the critical $90 threshold, declining over 5% to close at $91.89 per barrel, while WTI crude dropped to $84.64. This pullback reverses last week's impressive 10% rally, prompting analysts to reassess geopolitical risk premiums and their impact on energy prices moving forward.
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Oil Price Today (July 27): Crude oil dips 5%, below $95 as US pauses strikes on Iran. What are experts say
Brent crude futures dropped $4.89, or 5.05%, to $91.89, after briefly falling below the key $90 support level earlier in the session. US West Texas Intermediate crude stood at $84.64 a barrel, down $4.67, or 5.23%. The decline comes after crude prices surged 10% last week.
