Forex

Oil Prices Plummet as Tensions Ease Between US and Iran

Guavy AI Editorial Team Published July 28, 2026

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USD

Oil prices plummeted on July 28 as geopolitical tensions eased between the US and Iran, allowing for diplomatic engagement instead of military strikes.

This sudden shift reduced immediate supply concerns, contributing to a sharp drop in oil prices.

The Commodity Corner reports that gold prices also declined, influenced by a stronger US dollar and caution ahead of the Federal Reserve's policy decision on interest rates.

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