Traders work on the floor of the New York Stock Exchange on Wall Street on Monday. Photo by John Angelillo/UPI | License Photo
July 27 (UPI) -- Oil prices dropped and stock futures rose Monday amid a three-day pause in attacks between the United States and Iran and new optimism over talks to de-escalate tensions.
The price of Brent crude, the global benchmark for oil, dropped to a low of $87.60 per barrel -- a 9% drop compared to a day earlier -- Monday before leveling out around $90.80 per barrel, the BBC reported.
Gasoline prices, meanwhile, were about the same at $4.11 per gallon, according to AAA. A drop in oil prices usually takes a few days to be reflected by gas prices.
Prices had jumped to more than $100 per barrel over the past week, inspired, in part, by a Houthi blockade on Saudi movement in the Red Sea.
