Brent oil falls more than 5%, trades below $84 a barrel

Oil prices declined significantly on July 28, 2026, with Brent crude falling over 5% to below $84 per barrel and dropping by $4 per barrel amid hopes of easing U.S.-Iran hostilities, while U.S. crude traded below $80 per barrel at its session low; the developments were reported by multiple authoritative sources including The Wall Street Journal (WSJ) and other financial news outlets.