International Oil News As of May 12, 2026, the global oil market is dominated by Middle East geopolitical tensions (US-Iran confrontation) and OPEC+ supply policies. Crude oil prices fluctuate sharply between $90–$105 per barrel.

Waktu penerbitan：2026-05-12 Penerbit：GINZO

1. Benchmark Oil Prices (Closing on May 11)

WTI Crude: $100.45/barrel, up 4.8%, breaking above $100
Brent Crude: $104.42/barrel, up 3.09%

2. US-Iran Confrontation — Strait of Hormuz Energy Crisis

The Strait of Hormuz carries 25% of global seaborne crude oil. Military tensions between the US, Israel and Iran have led to a standoff of blockade and counter-blockade.

Talks have broken down; military tensions are escalating. Oil shipments through the strait have dropped sharply, causing a major global supply shortage.

3. OPEC+ Latest: Limited Output Increase + UAE Exit

OPEC+ agreed on a modest production rise for June, but the increase is too small to ease market tightness.

The UAE has officially left OPEC and OPEC+, exposing deep divisions among oil-producing nations.

4. Supply & Inventory

Global crude supply deficits keep widening. OECD commercial oil inventories have fallen to a five-year low, with large volumes of crude stranded at sea due to shipping disruptions.

5. Market Outlook

Geopolitical risks will keep supporting oil prices. Brent is expected to trade between $95–$110 per barrel. High oil prices will fuel inflation and put pressure on global economic growth.