{"id":2572,"date":"2026-07-27T06:27:36","date_gmt":"2026-07-27T06:27:36","guid":{"rendered":"https:\/\/arabnewsmonitor.com\/2026\/07\/27\/oil-prices-fall-amid-pause-in-us-strikes-on-iran-to-give-space-for-diplomacy\/"},"modified":"2026-07-27T06:27:36","modified_gmt":"2026-07-27T06:27:36","slug":"oil-prices-fall-amid-pause-in-us-strikes-on-iran-to-give-space-for-diplomacy","status":"publish","type":"post","link":"https:\/\/www.arabnewsmonitor.com\/?p=2572","title":{"rendered":"Oil prices fall amid pause in US strikes on Iran to give &#8216;space&#8217; for diplomacy"},"content":{"rendered":"<div data-tms-ad-status=\"idle\" data-tms-ad-container class=\"o-ad-container o-ad-container--banner-top o-ad-container--with-shimmer o-ad-container--with-background\">\n<div class=\"o-ad-container__content o-ad-container__content--report-enabled\">\n<div class=\"o-ad-container__label m-block-ad__label--report-enabled\">\n                    <span class=\"o-ad-container__label__text\">Advertising<\/span><br \/>\n                                            <button title=\"Report this ad\" class=\"o-ad-container__content__report-link\" data-tms-ad-report><\/p>\n<p>                        <\/button>\n                                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"o-ad-sponsoring\" data-tms-ad-type=\"sponsoring\" data-tms-ad-status=\"disabled\">\n<div class=\"o-ad-sponsoring__wrapper\">\n    <\/div>\n<\/div>\n<div class=\"t-content t-content--article\" id=\"main-content\">\n<div class=\"t-content__above-sidebar\">\n<h1 class=\"t-content__title a-page-title\">Oil prices fall amid pause in US strikes on Iran to give &#8216;space&#8217; for diplomacy<\/h1>\n<div class=\"m-master-tag\">\n<div class=\"a-tag-section\">\n                                    Middle East\n                            <\/div>\n<\/p><\/div>\n<p class=\"t-content__chapo\">\n                                        Oil prices fell on Monday amid a pause in strikes between the US and Iran, boosting hopes for a return to a ceasefire and new talks on reopening the Strait of Hormuz.\u00a0The United States held fire over the weekend after 13 days of attacks on Iran, with Washington&#8217;s UN envoy saying the US was &#8220;giving talks some space&#8221;.                <\/p>\n<\/p><\/div>\n<div class=\"t-content__with-sidebar\">\n<div class=\"t-content__beside-sidebar\" data-article-content>\n<div class=\"t-content__metadata\">\n<div class=\"t-content__dates\">\n<p class=\"m-pub-dates\"><span class=\"m-pub-dates__date\">Issued on: <time datetime=\"2026-07-27T03:13:12+00:00\">27\/07\/2026 &#8211; 05:13<\/time><\/span><span class=\"m-pub-dates__date\">Modified: <time datetime=\"2026-07-27T06:11:30+00:00\">27\/07\/2026 &#8211; 08:11<\/time><\/span><\/p>\n<div class=\"a-reading-time\">\n    <span class=\"a-reading-time__icon\" title=\"Reading time\"><\/p>\n<p>    <\/span><br \/>\n    2 min    <span class=\"u-sr-only\">Reading time<\/span>\n<\/div>\n<\/p><\/div>\n<div class=\"a-share-button\" data-root-share>\n<p>                            <span class=\"a-master-button__label\">Share<\/span><\/p><\/div>\n<div class=\"t-content__authors\">\n<div class=\"m-from-author\">\n                    <span class=\"m-from-author__by-label\"><br \/>\n                By:<br \/>\n            <\/span><\/p>\n<div class=\"m-author\">\n<div class=\"m-author__name\">\n                                                    <a href=\"\/en\/author\/france-24\/\" title=\"FRANCE 24\" class=\"m-author__name__title\"><br \/>\n                                FRANCE 24<br \/>\n                            <\/a>\n                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"t-content__main-media\">\n<figure class=\"m-item-image m-item-image--16x9 m-item-image--has-caption\">\n<p><img fetchpriority=\"high\" decoding=\"auto\" src=\"https:\/\/s.france24.com\/media\/display\/194f49fe-8969-11f1-bea4-005056bf30b7\/w:1024\/p:16x9\/3b71f00b87337b8a1a3d887bb431930621135e5e.jpg\" srcset=\"https:\/\/s.france24.com\/media\/display\/194f49fe-8969-11f1-bea4-005056bf30b7\/w:388\/p:16x9\/3b71f00b87337b8a1a3d887bb431930621135e5e.jpg 388w,https:\/\/s.france24.com\/media\/display\/194f49fe-8969-11f1-bea4-005056bf30b7\/w:720\/p:16x9\/3b71f00b87337b8a1a3d887bb431930621135e5e.jpg 720w,https:\/\/s.france24.com\/media\/display\/194f49fe-8969-11f1-bea4-005056bf30b7\/w:1024\/p:16x9\/3b71f00b87337b8a1a3d887bb431930621135e5e.jpg 1024w\" sizes=\"(max-width: 1076px) 100vw, 1012px\" width=\"1024\" height=\"576\" alt=\"Oil prices tumbled Monday, with Brent losing more than seven percent at one point\" loading=\"eager\" class=\"a-img \"><figcaption class=\"a-figcaption\">\n                Oil prices tumbled Monday, with Brent losing more than seven percent at one point.         \u00a9 Hussein Faleh, AFP    <\/figcaption><\/figure>\n<\/div>\n<div class=\"t-content__body u-clearfix\">\n<p>Tehran, in turn, said it would stop its retaliatory attacks on regional neighbours, handing Gulf <a href=\"https:\/\/www.france24.com\/en\/tag\/shipping\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">shipping<\/a> and the oil industry a respite.\u00a0<\/p>\n<p>&#8220;Since &#8230; our strategy has essentially been retaliatory, we have also halted our retaliatory operations,&#8221; said <a href=\"https:\/\/www.france24.com\/en\/tag\/iran\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Iran<\/a>&#8216;s army spokesman Mohammad Akraminia.<\/p>\n<p>The two <a href=\"https:\/\/www.france24.com\/en\/middle-east\/20260724-us-pummels-iranian-sites-tehran-targets-regional-bases-stationing-us-forces\" target=\"_self\">resumed hostilities this month<\/a>, breaking a fragile truce, after Iran attacked ships passing through Omani waters in the <a href=\"https:\/\/www.france24.com\/en\/tag\/strait-of-hormuz\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Strait of Hormuz<\/a>, sparking a pattern of escalation.<\/p>\n<p class=\"a-read-more\"><span class=\"a-read-more__label\">Read more<\/span><a href=\"https:\/\/www.france24.com\/en\/middle-east\/20260724-us-pummels-iranian-sites-tehran-targets-regional-bases-stationing-us-forces\" target=\"_self\" class=\"a-read-more__link\">US pummels Iran as Tehran targets regional bases stationing US forces<\/a><\/p>\n<p>Prior to Friday, the <a href=\"https:\/\/www.france24.com\/en\/tag\/us-military\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">US military<\/a> had carried out strikes on Iran for 13 consecutive nights, in the largest rekindling of the almost five-month-old war since an April <a href=\"https:\/\/www.france24.com\/en\/tag\/ceasefire\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">ceasefire<\/a>. But Friday, Saturday and Sunday nights passed without bombing.<\/p>\n<p>That derailed diplomatic efforts between Washington and Tehran, but the conflict then expanded beyond the vital energy corridor and saw Iran-backed <a href=\"https:\/\/www.france24.com\/en\/tag\/houthi-rebels\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Houthi rebels<\/a> in <a href=\"https:\/\/www.france24.com\/en\/tag\/yemen\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Yemen<\/a> strike Saudi vessels in the Bab al-Mandeb Strait, a crucial passage into the <a href=\"https:\/\/www.france24.com\/en\/tag\/red-sea\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Red Sea<\/a>.<\/p>\n<p>Crude prices soared on the flare-up, with Brent breaking back above $100 a barrel last week for the first time since May. News that shipping continued in the Red Sea helped investors pare the gains Friday.<\/p>\n<p>However, Trump&#8217;s decision to hold off more strikes and Iran&#8217;s claims Sunday that it had made progress in talks with <a href=\"https:\/\/www.france24.com\/en\/tag\/oman\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Oman<\/a> on management of the Strait of Hormuz provided some much-needed relief.<\/p>\n<p>The discussions focused on &#8220;common principles and operational mechanisms&#8221; for ensuring the safe passage of shipping through the strait while respecting the sovereign rights of the two states, according to Iran&#8217;s foreign ministry spokesman Esmaeil Baqaei.<\/p>\n<p>Meanwhile, a report said <a href=\"https:\/\/www.france24.com\/en\/tag\/pakistan\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Pakistan<\/a> was looking at resuming US-Iran peace talks following a push initiated by <a href=\"https:\/\/www.france24.com\/en\/tag\/china\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">China<\/a>.<\/p>\n<p>Both main oil contracts sank Monday, with Brent shedding more than seven percent at one point to briefly drop back below $90.<\/p>\n<p>&#8220;It looks as if developments in the Middle East have moved in a positive direction over the weekend, adding some credibility to the notion that oil above $100 a barrel seems to induce de-escalatory behaviour from both sides,&#8221; wrote National Australia Bank&#8217;s Sally Auld.<\/p>\n<p>The positive developments eased worries about a reignition of <a href=\"https:\/\/www.france24.com\/en\/tag\/inflation\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">inflation<\/a> and a fresh round of interest rate hikes, in turn helping most equity markets higher.<\/p>\n<p>However, concerns about the sustainability of the AI boom and questions over the eye-watering sums pumped into the sector continue to dog traders, as tech firms bear the brunt of selling.<\/p>\n<p><a href=\"https:\/\/www.france24.com\/en\/tag\/seoul\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Seoul<\/a> again led the losses, shedding more than one percent with chip giants SK hynix and <a href=\"https:\/\/www.france24.com\/en\/tag\/samsung\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Samsung<\/a> in the firing line once more. Taipei and <a href=\"https:\/\/www.france24.com\/en\/tag\/singapore\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Singapore<\/a> fell, with Jakarta also in retreat following the surprise resignation of Indonesian central bank boss Perry Warjiyo citing personal reasons.<\/p>\n<p>Tokyo rose, though tech firms Advantest, Kioxia and Tokyo Electron suffered more hefty selling pressure. <a href=\"https:\/\/www.france24.com\/en\/tag\/hong-kong\/\" target=\"_self\" class=\"gtm-add-suggested-tag\">Hong Kong<\/a>, Sydney, Shanghai, Wellington and Manila were also up.<\/p>\n<p><em>(FRANCE 24 with AFP)<\/em><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"o-sidebar\">\n<div class=\"o-sidebar__aside\">\n<div data-tms-ad-status=\"idle\" data-tms-ad-container class=\"o-ad-container o-ad-container--box o-ad-container--with-shimmer\">\n<div class=\"o-ad-container__content o-ad-container__content--report-enabled\">\n<div class=\"o-ad-container__label m-block-ad__label--report-enabled\">\n                    <span class=\"o-ad-container__label__text\">Advertising<\/span><br \/>\n                                            <button title=\"Report this ad\" class=\"o-ad-container__content__report-link\" data-tms-ad-report><\/p>\n<p>                        <\/button>\n                                    <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"t-content__tags t-content__below-sidebar\">\n<div class=\"m-section-title m-section-title--small\">Keywords for this article<\/div>\n<ul class=\"m-tags-list\">\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/iran\/\" class=\"a-hot-tag\" title=\"Iran\">    Iran<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/usa\/\" class=\"a-hot-tag\" title=\"USA\">    USA<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/diplomacy\/\" class=\"a-hot-tag\" title=\"diplomacy\">    diplomacy<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/middle-east\/\" class=\"a-hot-tag\" title=\"Middle East\">    Middle East<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/iran-conflict\/\" class=\"a-hot-tag\" title=\"Iran war\">    Iran war<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/oil\/\" class=\"a-hot-tag\" title=\"Oil and gas industry\">    Oil and gas industry<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/strait-of-hormuz\/\" class=\"a-hot-tag\" title=\"Strait of Hormuz\">    Strait of Hormuz<\/a>\n            <\/li>\n<li class=\"m-tags-list__tag\">\n                <a href=\"\/en\/tag\/shipping\/\" class=\"a-hot-tag\" title=\"shipping\">    shipping<\/a>\n            <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Advertising Oil prices fall amid pause in US strikes on Iran to give &#8216;space&#8217; for&#8230;<\/p>\n","protected":false},"author":0,"featured_media":2573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle-east"],"_links":{"self":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/2572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2572"}],"version-history":[{"count":0,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/posts\/2572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=\/wp\/v2\/media\/2573"}],"wp:attachment":[{"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arabnewsmonitor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}