18.05.2026, 12:33
Global oil prices have peaked after Iran's attack on the UAE
Source: OREANDA-NEWS
OREANDA-NEWS During trading on Monday, May 18, the exchange value of the benchmark North Sea Brent crude oil brand at its peak came close to around $ 112 per barrel. This is evidenced by Investing data.
At its peak, commodity prices reached $119.99 per barrel. This became the maximum value since May 5. Closer to 12:00 Moscow time, the price of Brent stabilized around $ 110 per barrel. The increase to the closing level of the previous session by that time was about 0.7 percent.
The rise in oil prices is being recorded against the background of another Iranian attack on the United Arab Emirates (UAE). Earlier, a drone struck a local nuclear power plant (NPP), which increased market participants' doubts about the prospects for resolving the conflict in the Middle East.
The risks of an escalation of the conflict in the Middle East against the background of fundamental disagreements between Washington and Tehran regarding the terms of a ceasefire in the region also add to concern. All this, experts say, does not contribute to the rapid opening of the most important logistical artery — the Strait of Hormuz. In the event of a prolonged closure of the route, analysts at Capital Economics predicted that the cost of Brent could update its historical maximum and exceed $ 150 per barrel.
At its peak, commodity prices reached $119.99 per barrel. This became the maximum value since May 5. Closer to 12:00 Moscow time, the price of Brent stabilized around $ 110 per barrel. The increase to the closing level of the previous session by that time was about 0.7 percent.
The rise in oil prices is being recorded against the background of another Iranian attack on the United Arab Emirates (UAE). Earlier, a drone struck a local nuclear power plant (NPP), which increased market participants' doubts about the prospects for resolving the conflict in the Middle East.
The risks of an escalation of the conflict in the Middle East against the background of fundamental disagreements between Washington and Tehran regarding the terms of a ceasefire in the region also add to concern. All this, experts say, does not contribute to the rapid opening of the most important logistical artery — the Strait of Hormuz. In the event of a prolonged closure of the route, analysts at Capital Economics predicted that the cost of Brent could update its historical maximum and exceed $ 150 per barrel.
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