US President Donald Trump wears a “Trump 2028” hat while speaking during the White House Correspondents’ Association Dinner at the Waldorf Astoria in Washington, DC on July 24, 2026. — AFP pic Stay updated on the latest news and insights. Subscribe to our newsletter here Summary On July 27, oil prices experienced a sharp decline as Asian markets opened, prompted by easing investor concerns following a temporary halt in US military actions against Iran. The international benchmark North Sea Brent crude price decreased by 5.58%, settling at US$91.38, while the US benchmark, West Texas Intermediate, saw a 5.46% drop to US$84.43. This market response suggests cautious optimism for potential diplomatic engagements. First Published: Monday, 27 Jul 2026 9:05 AM MYT TOKYO, July 27 — Oil prices dropped sharply at Monday’s opening of Asian markets as investors breathed cautious sighs of relief following two consecutive nights without US strikes on Iran, leaving the door open for new talks.The price of a barrel of international benchmark North Sea Brent crude fell 5.58 per cent to US$91.38 (RM372), while its US counterpart West Texas Intermediate slid US$5.46 per cent to US$84.43. — AFP