{"id":17067,"date":"2026-05-18T04:31:22","date_gmt":"2026-05-18T04:31:22","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=17067"},"modified":"2026-05-18T04:31:22","modified_gmt":"2026-05-18T04:31:22","slug":"global-crude-oil-prices-today-may-18-2026-brent-crude-rises-to-111-29-per-barrel","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/17067\/","title":{"rendered":"Global Crude Oil Prices Today, May 18, 2026 \/ Brent Crude Rises to $111.29 per Barrel"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Global oil prices extended their upward trend in Monday trading as efforts to end the U.S.-Israeli war against Iran appeared to have stalled, while an attack on a nuclear power plant in the United Arab Emirates heightened concerns over escalating tensions in the region.<\/p>\n

According to Reuters, U.S. President Donald Trump is expected to meet with his senior national security advisers on Tuesday to discuss military options against Iran.<\/p>\n

Brent crude futures climbed $2.03, or 1.86%, to $111.29 per barrel by 02:20 GMT. Brent had earlier surged to as high as $112 per barrel, marking its highest level since May 5.<\/p>\n

Meanwhile, U.S. West Texas Intermediate (WTI) crude rose $2.31, or 2.19%, to $107.73 per barrel. WTI also advanced to an intraday high of $108.70, its strongest level since April 30. The June WTI contract is set to expire on Tuesday.<\/p>\n

Both oil benchmarks recorded gains of more than 7% last week as hopes for a peace agreement capable of halting attacks and vessel seizures in the Strait of Hormuz continued to fade.<\/p>\n

Reports indicated that last week\u2019s talks between Donald Trump and Xi Jinping concluded without any indication that China would help resolve the conflict.<\/p>\n

Jason Schenker of Prestige Economics said in a note: \u201cThe longer the conflict with Iran continues, the greater the risk that higher oil prices will have lasting effects, potentially keeping interest rates elevated for a longer period.\u201d<\/p>\n

He added: \u201cThis situation could also create persistent downside risks for economic growth.\u201d<\/p>\n

Drone attacks targeting the UAE and Saudi Arabia, along with statements from U.S. and Iranian officials, have further intensified concerns over a broader regional conflict.<\/p>\n

UAE officials said they are investigating the source of the attack on the Barakah nuclear power plant, stressing that the country reserves the full right to respond to such \u201cterrorist attacks.\u201d<\/p>\n

Saudi Arabia, which intercepted three incoming drones from Iraqi airspace, also warned that it would take all necessary operational measures to defend its sovereignty and national security.<\/p>\n

Tony Sycamore, a market analyst at IG, said: \u201cThese drone attacks are a serious warning sign, as further U.S. or Israeli strikes against Iran could trigger more proxy attacks on critical and energy infrastructure across Gulf countries by Iran or its regional allied forces.\u201d<\/p>\n

Axios also reported that Donald Trump is scheduled to meet with national security advisers on Tuesday to discuss possible military action against Iran.<\/p>\n

Meanwhile, the Trump administration on Saturday allowed a sanctions waiver \u2014 which had previously permitted countries including India to purchase Russian seaborne oil \u2014 to expire after a one-month extension, a move that could further support oil prices.<\/p>\n

Updated on