Oil prices dip over 6pct after US, Iran pause fighting over weekend
Photo: New Straits Times
SINGAPORE: Oil prices tumbled more than six per cent on Monday after the US and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.
From the original report
Brent crude futures fell US$6.20, or 6.4 per cent, to US$90.58 by 0620 GMT after briefly slipping under the key support level of US$90 earlier in the session.
US West Texas Intermediate crude was at US$83.51 a barrel, down US$5.80, or 6.5 per cent.
…
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About this story
- Source
- New Straits Times
- Originally published
- Jul 27, 2026
- Updated here
- Aug 15, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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