May 18, 2026
Brent rose 1.78 per cent to $111.20, while WTI gained 2.08% to $107.60, as risk assets weakened.
Donald Trump threatened renewed attacks on Iran unless a deal is reached, intensifying fears of wider Gulf hostilities and supply risks.
The Strait of Hormuz remains shut, delivering an unprecedented supply shock; analysts warn Brent could exceed $150 (conversion) and potentially reach $200.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said rapid sovereign bond sell-offs reflect faster-than-expected inflation driven by Middle East energy price pressures.
