Economy / 1 MIN READ
The ongoing blockade has disrupted global oil supplies, driving WTI crude to multi-year highs and fueling market uncertainty.
Prediction Market Network
Economy
Strait of Hormuz Blockade Pushes WTI Crude Oil Past Key Price Level
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Market data
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Will WTI Crude Oil (WTI) hit (HIGH) $110 in May?
The Strait of Hormuz blockade, which began in February 2026, has severely disrupted global oil supplies, sending crude prices sharply higher.
On May 1, WTI crude oil was trading near $106 per barrel, according to FX Leaders. The blockade has constrained tanker traffic through the strategic waterway.
Financial Times data shows WTI crude oil reached $112.02 per barrel on May 18, marking a significant increase from earlier in the month.
Goldman Sachs analysts have forecast Brent crude averaging above $100 per barrel in 2026, reflecting sustained supply concerns.
The blockade shows no signs of immediate resolution, keeping upward pressure on crude prices as traders monitor diplomatic efforts.
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Economy
Trump Says He Will Skip Son Donald Jr.'s Bahamas Wedding This Weekend
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Economy / 1 MIN READ
Earlier this weekThe president cited government duties and the Iran situation for skipping the ceremony on a private island with fewer than 50 guests.