Oil Price Today (July 28): Crude oil dips 10% in two sessions as US, Iran mull peace talks. What are experts saying?

Crude oil prices dropped about 10% over two sessions, with Brent falling to around $88 a barrel and WTI to about $82, as the US and Iran signaled potential peace talks. Despite Tuesday's decline, prices remain roughly 30% higher for the month, and shipping through the Strait of Hormuz continues well below normal levels. Experts including JPMorgan and Goldman Sachs warned that prolonged supply disruptions could push Brent toward $114-$120 a barrel, while Kotak Securities said a strike on Gulf export infrastructure could trigger a retest of $95-$100.