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Tuesday, October 27, 2026Updated 10:56 UTC

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Oil Prices Drop Despite Threat of New U.S. Strikes on Iran

Source: OilPrice.com · Oct 27, 2026 06:15 UTC

An oil tanker ship in the Houston Ship Channel — File photo roger4336 / Flickr · CC BY-SA 2.0 · Source

The Quick Take

Crude oil prices moved lower today after reports about renewed diplomatic efforts to achieve peace in the Middle East, with Saudi, Turkish, and Pakistani officials travelling to Tehran to discuss the prospects of an end to hostilities. At the time of writing, Brent crude was trading at $114.85 per barrel, with West Texas Intermediate at $100.87 per barrel. That’s down from over $117 for Brent crud

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