You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence EMEA News Latest Features World Americas EMEA Asia/Pacific Home News & Features EMEA Crude Futures Drop Over 6% as US and Iran Pause Attacks Crude Futures Drop Over 6% as US and Iran Pause Attacks by Ship & Bunker News Team Monday July 27, 2026 Tweet Follow @shipandbunker Reports suggest President Trump has paused further strikes to allow more time for diplomacy. File Image / Pixabay Crude futures plunged more than 6% on Monday morning after the US and Iran paused days of continuous fighting over the weekend The ICE September Brent contract traded at $90.77/bl as of 7:49 AM in London , down 6.2% from Friday 's settlement of $96.78/bl . Oil prices had surged above $100/bl last week as fighting between the US and Iran intensified. At the same time, Yemen 's Houthi movement launched attacks on commercial shipping in the Red Sea , opening another front in the regional conflict. US Ambassador to the United Nations Mike Waltz told Fox News Sunday that President Donald Trump had decided to pause US attacks to allow more time for diplomacy, media outlet Reuters reported today. “While this is the first tangible signal of de-escalation, the reasons behind it are less clear," ING analysts said in a note today. "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.” Ship & Bunker News Team To contact the editor responsible for this story email us at [email protected] Also in the News Crude Futures Jump Over 4% After Fresh US Strikes on Iran US claims 140 ships ha