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Oil dips over 3% after Trump Iran remarks
Global oil prices declined on Tuesday, July 28, 2026, after West Texas Intermediate crude fell below $80 per barrel. This drop was fueled by increased optimism regarding improved dialogue between Washington and Tehran following optimistic remarks from the American president about the potential success of negotiations. The decline was further supported by resumed oil flows from the Black Sea and improved weather conditions, despite ongoing tensions around the Strait of Hormuz, where maritime traffic remains disrupted. In Morocco, the experience demonstrated that the market has become more mature and capable of handling oil price fluctuations, with strengthened storage capacities and the revival of the Sonatrach refinery to ensure market stability and reduce the impact of international changes on fuel prices.
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