US oil prices surge toward 105 dollars amid Middle East supply concerns

May 15, 2026, 3:55:09 PM UTC(5 hours ago)
Impact: High
US oil prices surge toward 105 dollars amid Middle East supply concerns

Affected Assets

  • West Texas Intermediate crude rose over 3 percent in a single day to reach intraday highs near 105.50 dollars per barrel
  • The International Energy Agency warned that global markets could remain severely undersupplied through October 2026 due to a 4 million barrel per day drop in flows through the Strait of Hormuz
  • Market analysts point to persistent challenges in reopening key shipping lanes following recent vessel attacks and seizures in the Persian Gulf
  • Prediction markets now show a 50 percent probability of oil prices reaching 110 dollars later this month as inventories continue to tighten
  • Global supply shortfalls for 2026 are currently forecasted to reach up to 3.9 million barrels per day compared to the previous year

Sources

@DeItaoneTrading EconomicsFortunePolymarketOilPrice
From:@DeItaone
US OIL HITS INTRADAY HIGH, TRADES NEAR $105.50/BBL
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