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17
May 2026
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Oil and gold surge after US strikes on Iran, brent above $100

The spot price of gold stood near $4,720 per ounce, recording a weekly increase of 2.3%

Analysis: Even if peace comes to the Middle East now, it will still take a long time for fuel prices to fall

Even if a U.S.–Iran agreement is reached and the Strait of Hormuz reopens immediately, fuel prices are unlikely to return quickly to their early-2026 levels. Markets will need months to be “convinced” that the danger has truly passed. This is the well-known “rockets and feathers” phenomenon

Oil: 9% plunge after Axios report that US and Iran are nearing an agreement

Axios claims the agreement would include, among other things, the lifting of restrictions on ship passage through the Strait of Hormuz

Ceasefire on the brink of collapse: The US strikes Iranian speedboats in Hormuz, Iran hits oil facilities in the UAE

Escort operation for ships amid attacks and rising tensions – Fears of an energy shock and escalation in the Gulf

Oil prices jumped up to 5% after Iran’s claims of a strike on a US warship

Brent rally eases after U.S. officials deny incident near Strait of Hormuz

What’s happening with oil: Why it dropped from record highs of $126 to around $111 within hours

The role of Trump's statements, market fears of "demand destruction" and strategic stocks

Donald Trump met with Chevron and other oil giants: Concerns over the “war shock” in energy prices

The U.S. president regularly holds meetings with industry executives in order to stay informed about developments. Gasoline prices in the U.S. have reached $4.18 per gallon, the highest level since 2022

Oil: What the UAE–OPEC “divorce” means for energy markets

The Reuters report gathers early reactions from analysts following the United Arab Emirates’ decision to leave OPEC and OPEC+, highlighting what it could mean for the future of the organization and global energy markets — including implications for the United States

Reuters: United Arab Emirates withdraws from OPEC, a major blow to the oil cartel

The withdrawal of the United Arab Emirates intensifies pressure on the global oil market and reshapes geopolitical balances

Oil: Brent heading toward $110 due to Hormuz, with the Fed, BOJ, and fears of a new energy shock in focus

According to experts, it will take at least four to six months for the oil market to stabilize, and until then prices are likely to remain elevated

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