July 27, 2026, 04:41July 27, 2026, 04:41
After the end of the US series of attacks in Iran, the price of oil fell significantly at the beginning of the week. The price of Brent crude oil was at times around $92 per barrel (159 liters), down more than 5 percent.
The US had previously reported attacks on Iran 13 nights in a row. The price of the North Sea Brent rose significantly in the following days and exceeded the $100 per barrel mark.
The latest pause in US attacks over the weekend renewed hope for a de-escalation in the conflict that has been raging since the end of February. Iran had also indicated that it would suspend its attacks for the time being. The military justified the move by saying that its actions were merely retaliating against US attacks.
Stock markets in East Asia moved little
The developments in the Middle East initially seemed to have little effect on the stock markets in East Asia. By 10:30 a.m. local time, the South Korean leading index Kospi fell by 1 percent, and Japan’s Nikkei 225 fell by 0.2 percent. The economies of East Asia are heavily dependent on oil supplies via the Strait of Hormuz.
The Hong Kong stock exchange was hardly changed in the first few minutes after trading began. The leading Hang Seng index temporarily rose by 0.3 percent. On the Chinese mainland stock exchanges, the CSI 300 index with the 300 most important stocks was initially down 0.5 percent. (sda/dpa)