Oil Prices Steady as Hormuz Transit Occurs

Oil prices were largely unchanged on May 14, 2026, with Brent at $106.52/bbl and WTI at $102.02/bbl.
Iran’s Press TV reported 30 vessels passed the Strait of Hormuz under IRGC supervision, easing the bottleneck after February’s shutdown.
U.S. crude inventories fell 4.3 million barrels, exceeding expectations, while gasoline stocks dropped 4.1 million barrels and distillate stocks rose 190,000 barrels.
President Trump’s China visit highlighted Xi’s willingness to help negotiate an Iran deal, though analysts caution against over‑reliance on diplomatic hopes.