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Commodities

US and Iran's Military Strike Pause Sends Oil Prices Sliding

Guavy AI Editorial Team
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Oil
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Oil prices have eased following the temporary halt of military strikes by the United States and Iran in the Persian Gulf. The conflict had been driving up oil prices, with Brent crude hitting $102 a barrel last week.

The price for a barrel of Brent crude to be delivered in September fell 4.9% to $92.02 after trading resumed, following a 3.9% drop on July 24.

In the US, the average price for a gallon of regular gasoline was $4.11 on July 26, up from $3.90 a month ago and just $3.15 in 2025, according to AAA.

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