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21 July
Oil prices eased amid ceasefire proposals between the US and Iran, while Brent remained near $90 per barrel.
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Generated by AI from the 4 sources below · always verify with the originals
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AI-synthesised from 4 sources · no editorial bias
Oil prices experienced a decline on July 21, 2026, as mediators proposed a potential ceasefire between the United States and Iran, raising hopes for diplomatic engagement. West Texas Intermediate (WTI) prices traded at about $81.30, reflecting a decrease of 0.54% from the previous day, as investors opted to take profits following a recent rally in crude prices. Meanwhile, Brent crude futures dropped by 96 cents, or 1.1%, remaining near the $90 per barrel mark.
The price fluctuations occurred amid reports of renewed hostilities, including recent attacks between U.S. and Iranian forces, and threats of a naval blockade of Saudi Arabia by Yemeni Houthis. The uncertain geopolitical landscape in the Middle East continues to influence market sentiment, as traders balance the likelihood of diplomatic resolutions against the backdrop of escalating tensions. Despite the recent pullback, the potential for a 10-day ceasefire has injected some optimism into the market.
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