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ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. Home Markets Commodities Crude oil falls as US, Iran
halt weekend strikes After 13 days of strikes, the US has held off on further strikes over the last two days, while Iran
also paused retaliatory attacks By BL Mangaluru Bureau Updated - July 27, 2026 at 10:10 AM. | Mangaluru
×ShareWhatsAppXFacebookLinkedInMessengerRedditMailhttps://www.thehindubusinessline.com/markets/commodities/crude-oil-falls-as-us-iran-halt-weekend-strikes/article71271374.eceCopyCrude
oil futures traded lower on Monday morning after the US and Iran halted strikes against each other’s targets over the
weekend.At 10.02 am on Monday, October Brent oil futures were at $87.58, down by 4.47 per cent, and September crude oil
futures on WTI (West Texas Intermediate) were at $84.83, down by 5.02 per cent. August crude oil futures were trading at
₹8188 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of
₹8604, down by 4.83 per cent, and September futures were trading at ₹7901 against the previous close of ₹8247,
down by 4.20 per cent.Mike Waltz, US ambassador to the United Nations, told ‘Fox News Sunday’ that US President
Donald Trump has paused attacks on Iran to allow more room for diplomacy. “He’s giving talks some space, he’s
giving it a little bit of room,” he said.Quoting unnamed Iranian officials, a Reuters report said that Iran will
halt its attacks as long as US does the same.In their Commodities Feed for Monday, Warren Patterson, Head of Commodities
Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said the price action in oil on Monday morning clearly
reflects the market’s desperation for positive news. After 13 days of strikes, the US has held off on further strikes
over the last two days, while Iran also paused retaliatory attacks. The recess has seen Brent retreat aggressively, down
more than 7 per cent at one stage, briefly below $90 a barrel.Mentioning that this is the first tangible signal of
de-escalation, they said the reasons behind it are less clear. There’s little explanation from the US. Also, it
hasn’t yet led to any meaningful pickup in vessel flows through the Strait of Hormuz.“We’re unlikely to see any
recovery until there’s clarity on whether this de-escalation is more permanent and whether vessels can navigate the
strait without fear of attack,” they said.While there are signs of de-escalation between the US and Iran, the Houthis
in Yemen stepped up their attacks on Saudi Arabia. The Houthis claimed to have attacked a number of targets in Saudi,
including energy facilities in Jazan and Yanbu. Amid disruptions in the Strait of Hormuz, Saudi Arabia has been
exporting the bulk of its crude oil from Yanbu on the Red Sea, they said.August natural gas futures were trading at
₹272.60 on MCX during the initial hour of trading on Monday against the previous close of ₹280.60, down by 2.85 per
cent.On the National Commodities and Derivatives Exchange (NCDEX), August turmeric (farmer polished) contracts were
trading at ₹21468 in the initial hour of trading on Monday against the previous close of ₹21178, up by 1.37 per
cent.August dhaniya futures were trading at ₹15570 on NCDEX in the initial hour of trading on Monday against the
previous close of ₹15508, up by 0.40 per cent. Comments Published on July 27, 2026 READ MORETHIS AD SUPPORTS OUR
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