Oil prices declined on July 31, 2026, as markets reacted to escalating tensions between the United States and Iran in the Middle East.
The Brent crude futures fell $1.03, or 1.2 percent, to $88 a barrel, while West Texas Intermediate (WTI) crude futures dropped $1.50, or 1.8 percent, to $82.09 a barrel.
Despite the decline, both benchmarks remain on track to post monthly gains of nearly 20 percent.
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