Big News! Crude oil prices see biggest drop in 3 months; relief for the common man.

Crude oil price Today, July 28, 2026: Brent crude has recorded its sharpest decline in over three months. Its price in the international market now stands at approximately $88.36 per barrel.

Crude oil price Today, July 28, 2026: There is welcome news for the common man. On Monday, crude oil prices saw a massive drop of 8.7%—the steepest decline in the last three months. Following this drop, the price of Brent crude in the international market fell from a recent high of $102 per barrel to $88.36 per barrel.

This significant price drop follows the easing of geopolitical tensions in West Asia, driven by US President Donald Trump's decision to halt an attack on Iran and give diplomacy another chance. Like Brent crude, US oil (WTI Crude) also slipped by 7.5% to settle at $82.61 per barrel.

Why did crude oil prices fall?