# The Commodities Feed: Oil slumps as the US and Iran pause strikes | articles | ING THINK

> Oil prices fell sharply after the US and Iran paused military action, with Brent dropping more than 7% at one point to briefly below $90 per barrel. Houthi attacks on Saudi energy facilities at Jazan and Yanbu continued, and the Russian Sheskharis terminal at Novorossiysk has reportedly been halted since 21 July.

- Date: 2026-07-27 · published 2026-07-27T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/8281-the-commodities-feed-oil-slumps-as-the-us-and-iran-pause-strikes-articles-ing
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil moves are driven by the Strait of Hormuz disruption and the regional conflict. Until shipping through Hormuz resumes safely, supply risk keeps crude volatile, which feeds through to biofuel-linked crops.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-08-13 | [The Commodities Feed: Oil in wait-and-see mode ahead of Trump Vs. Putin \| articles \| ING THINK](https://feedsoft.ai/events/23271-the-commodities-feed-oil-in-wait-and-see-mode-ahead-of-trump-vs-putin-articles.md) | -0.4% | +1.1% |
| BRENT | 2026-04-08 | [The Commodities Feed: Oil slumps below $100 after US, Iran agree to two-week ceasefire \| ING THINK](https://feedsoft.ai/events/10459-the-commodities-feed-oil-slumps-below-100-after-us-iran-agree-to-two-week.md) | -13.7% | -8.7% |
| BRENT | 2019-04-29 | [The Commodities Feed: Trump demands & Russian oil \| snaps \| ING THINK](https://feedsoft.ai/events/7601-the-commodities-feed-trump-demands-and-russian-oil-snaps-ing-think.md) | -0.3% | -4.5% |
| BRENT | 2022-03-10 | [The Commodities Feed: Sell-off across the complex \| ING THINK](https://feedsoft.ai/events/4722-the-commodities-feed-sell-off-across-the-complex-ing-think.md) | -11.0% | -11.3% |
| BRENT | 2021-10-27 | [Oil Slumps as Iran Nuclear Talks Resurface, US Crude Stocks Rise By Investing.com](https://feedsoft.ai/events/44720-oil-slumps-as-iran-nuclear-talks-resurface-us-crude-stocks-rise-by-investing-com.md) | -1.4% | -3.4% |
| WTI | 2025-08-13 | [The Commodities Feed: Oil in wait-and-see mode ahead of Trump Vs. Putin \| articles \| ING THINK](https://feedsoft.ai/events/23271-the-commodities-feed-oil-in-wait-and-see-mode-ahead-of-trump-vs-putin-articles.md) | -1.3% | +0.0% |
| WTI | 2026-04-08 | [The Commodities Feed: Oil slumps below $100 after US, Iran agree to two-week ceasefire \| ING THINK](https://feedsoft.ai/events/10459-the-commodities-feed-oil-slumps-below-100-after-us-iran-agree-to-two-week.md) | -18.9% | -8.3% |
| WTI | 2019-04-29 | [The Commodities Feed: Trump demands & Russian oil \| snaps \| ING THINK](https://feedsoft.ai/events/7601-the-commodities-feed-trump-demands-and-russian-oil-snaps-ing-think.md) | -2.1% | -7.6% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-oil-slumps-as-the-us-and-iran-pause-strikes270726/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.