Brent Crude Drops 2.2% to $109.60 as Trump Halts Iran Strikes
Updated
Updated · Bloomberg · May 19
Brent Crude Drops 2.2% to $109.60 as Trump Halts Iran Strikes
14 articles · Updated · Bloomberg · May 19
$109.60 a barrel — Brent crude fell 2.2% after Donald Trump said fresh strikes on Iran were called off and “serious negotiations” were underway.
Trump said Persian Gulf allies urged him to halt the attack, lifting hopes for a deal that could ease the war and restore energy flows through the Strait of Hormuz.
Asian equities briefly rose on the comments before losing momentum; South Korean stocks fell more than 2%, while a US semiconductor gauge also declined.
The move extended an earlier oil retreat from about $112 as markets reassessed the risk of prolonged disruption after Iran had shut the Strait during the conflict.
With global supply chains fractured, can the world economy withstand Iran's new threat to weaponize subsea internet cables?
As Gulf nations fracture in their approach to Iran, can a lasting regional security framework emerge from the current crisis?
After a costly military stalemate, is the U.S. negotiating a nuclear deal from a position of strength or strategic exhaustion?
Global Oil Inventories Plunge Amid 2026 US-Iran Conflict: Strait of Hormuz Closure Sparks Economic and Humanitarian Turmoil
Overview
The US-Iran conflict began on February 28, 2026, when the United States and Israel attacked Iran, quickly escalating into a major international crisis. As tensions remain high, diplomatic efforts are underway, with President Trump seeking a swift resolution and Iran showing openness to mediation from China. The closure of the Strait of Hormuz has severely disrupted global oil supplies, causing rapid depletion of oil inventories and driving up prices. This situation has triggered economic shocks worldwide, highlighting the fragility of energy security and the far-reaching impact of geopolitical conflicts on markets and daily life.