BRENT — Brent crude tumbles over 6% as US-Iran tensions ease, providing market relief

Oil prices fell sharply on July 27 as the United States and Iran extended a pause in military strikes for a third day, easing geopolitical risk premiums. Brent crude futures slid to around $90.92 per barrel, a drop of approximately 6% from the July 24 close of $96.78. The de-escalation follows two weeks of heightened conflict and has fueled a relief rally in global stock markets.