Oil prices rose by over 2% due to the uncertainty of peace negotiations between the US and Iran. Tehran’s response to Washington’s latest proposal highlighted sharp differences and increased concerns about supply disruptions.
Global oil markets reacted to statements by US President Donald Trump, who said that the truce with Iran is in a critical state. This led to an increase in Brent crude prices to $106.93 per barrel, up by $2.72 (2.61%) from the previous day. WTI oil futures also rose, reaching $101.10 per barrel. Potential disruptions due to the closure of the Strait of Hormuz raised concerns in the market.
Analysts note that without a quick peace agreement, oil prices may rise to $115 per barrel. The meeting between Donald Trump and Chinese President Xi Jinping draws additional interest, considering US sanctions on Iranian oil. Meanwhile, the US is actively using its strategic oil reserves: on May 11, Washington released 53.3 million barrels to stabilize prices.
Saudi Aramco CEO Amin Nasser stated that disruptions in the Strait of Hormuz could delay the restoration of market stability until 2027, potentially causing a loss of 100 million barrels of oil per week.
| Indicator | Brent | WTI |
|---|---|---|
| Price per barrel | $106.93 | $101.10 |
| Change | +2.61% | +3.09% |
| Forecast | Approach $115 | – |
