Strait of Hormuz closure disrupts oil supply amid US-Iran tensions
The “US-Iran nuclear deal by May 31” market is currently priced at 14.5% YES, a slight increase from 14% in the last 24 hours.
The “WTI Crude Oil Prices in May 2026” market is observing heightened interest due to recent geopolitical tensions, though specific pricing data remains undefined.
– The news suggests ongoing US-Iran tensions are consistent with decreased likelihood of a nuclear deal by May 31.
– Market behavior indicates that participants see a higher probability of WTI Crude Oil prices reaching $150 in May, given current disruptions.
– The continued closure of the Strait of Hormuz and fragile ceasefire contribute to market uncertainty.
In a recent address to small-business owners, President Donald Trump sought to minimize concerns about the economic impacts of the conflict with Iran, emphasizing the resilience of the U.S.
The ongoing geopolitical crisis began with a surprise military operation by the U.S.
and Israel, targeting Iranian military sites and resulting in the assassination of Supreme Leader Ali Khamenei.
Iran’s retaliatory actions, including closing the Strait of Hormuz, have led to a significant disruption in global oil supplies.
Despite a ceasefire in place since April, tensions remain high, with Iranian officials warning of potential renewed conflict.
The International Monetary Fund has projected a slowdown in global growth due to the conflict, with significant increases in energy prices and inflation.
Recent developments appear to reinforce scenarios where a US-Iran nuclear deal by May 31 is less likely, as indicated by the market’s current pricing at 14.5% YES.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $82.14/bbl | ▲ +0.34% |
| WTI Crude | $78.90/bbl | ▲ +0.21% |
| EN590 Diesel | $746/MT | ▲ +0.18% |
| Jet Fuel A-1 | $820/MT | ▲ +0.55% |
| Mazut M100 | $310/MT | ▼ −0.15% |
| Bitumen 60/70 | $420/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $112/MT | ▼ −0.44% |
| Urea 46% Gran | $298/MT | ▲ +1.12% |
| NPK 16-16-16 | $340/MT | ▼ −0.28% |
| Nat Gas TTF | $10.42/MMBtu | ▲ +0.92% |
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