Athira Sethu
Kochi, 18 May 2026
Oil prices continued to rise on Monday as tensions in the Middle East intensified after attacks targeted the UAE and Saudi Arabia, raising fears of a wider regional conflict. Concerns over possible disruptions in the Strait of Hormuz, a critical global oil shipping route, pushed crude prices to their highest levels in nearly two weeks. Markets also reacted to reports that U.S. President Donald Trump may review military options related to Iran, while analysts warned that a prolonged disruption could tighten global oil supplies further and keep prices elevated.
| Crude Oil Prices on May 18 | Numbers |
| Brent crude price | $110.70 per barrel |
| Brent crude gain | +$1.44 |
| Brent crude percentage rise | +1.32% |
| WTI crude price | $107.26 per barrel |
| WTI crude gain | +$1.84 |
| WTI crude percentage rise | +1.75% |
| Brent highest level since | May 5 |
| WTI highest level since | May 4 |
| Weekly Market Movement | Numbers |
| Previous week surge in oil prices | More than 7% |
| Share of global oil and LNG shipments through Hormuz | Nearly 20% |
| Key exporters using Hormuz | Saudi Arabia, Iraq, Qatar |
