Brent Crude Falls Below $108 as Iran Sanctions Signals Reverse Early 1% Jump
Updated
Updated · The New York Times · May 18
Brent Crude Falls Below $108 as Iran Sanctions Signals Reverse Early 1% Jump
6 articles · Updated · The New York Times · May 18
$108 Brent crude and roughly $100 WTI both fell more than 1% on Monday, wiping out earlier gains as traders reassessed the Iran-US standoff.
Tasnim reported that U.S. sanctions on Iranian oil could be temporarily relaxed, undercutting the supply fears that had pushed oil higher earlier in the session.
The reversal came as Washington and Tehran sent conflicting signals over a fragile cease-fire, with Trump warning Iran that “the clock is ticking” while a peace deal and Strait of Hormuz reopening remained unresolved.
Stocks traded mixed, the bond sell-off paused and gasoline prices barely moved, even as analysts warned the conflict still carries a rising risk of a physical oil shortage.
Has Iran's control of the Hormuz Strait made its nuclear program irrelevant in current US negotiations?
With pipelines only a partial fix, how close is the world to a critical oil shortage from the Strait closure?
Is Iran's toll system in the Strait of Hormuz setting a dangerous new precedent for global maritime trade?