Oil Prices Update as of May 18, 2026
Stay informed with the latest updates on oil prices as reported by Fortune on May 18, 2026.
Editorial Staff May 18
Oil & Gas
Latest Oil & Gas stories from Energy.
Exploring Future Trends in Oil Pricing: Three Possible Scenarios
Morningstar Canada examines three potential scenarios that could influence the direction of oil prices in the coming months.
Editorial Staff May 18
Historic 1931 Cummins Diesel Car Achieves Remarkable Feat at Indy 500
The 1931 Indy 500 witnessed a significant milestone as Cummins' Duesenberg diesel race car completed the race without needing to refuel, utilizing only $1.40 of furnace oil.
Editorial Staff May 18
Understanding the Significance of the UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, could have significant implications for oil supply security in India and the dynamics of global oil markets.
Editorial Staff May 18
Trump's Comments on Iran Heighten Oil Supply Concerns and Influence WTI Price Outlook
Recent remarks by Trump regarding Iran have sparked worries about potential disruptions in oil supply, subsequently raising expectations for West Texas Intermediate (WTI) prices.
Editorial Staff May 18
Supercars Face Potential Oil Shortage Amid Ongoing U.S.-Israel Conflict with Iran
The ongoing conflict involving the U.S. and Israel in Iran could lead to a significant oil shortage for supercars, impacting maintenance costs for owners.
Editorial Staff May 17
Concerns Arise After Wheel Detaches Following Oil Change at Dealership
A woman's experience at a dealership raises serious questions about vehicle maintenance and customer service after a wheel fell off her Ford shortly after an oil change.
Editorial Staff May 17
BP Reassesses Strategy, Returns to Core Oil and Gas Focus
In light of evolving market conditions, BP is redirecting its strategy to prioritize traditional oil and gas operations, signaling a notable shift in its business approach.
Editorial Staff May 17
Chevron's Stock Rises 5.2% Following ENEOS Asset Sale and Oil Market Boost
Chevron's recent stock increase of 5.2% can be attributed to its strategic sale of assets in Asia to ENEOS, coupled with favorable conditions in the oil market.
Editorial Staff May 17
France Considers Windfall Tax on TotalEnergies in Response to Rising Oil Prices
Amidst soaring oil prices, the French government is contemplating a windfall tax on TotalEnergies, aiming to mitigate the impact on consumers.
Editorial Staff May 17
Alberta's New Carbon Deal Links Emissions Reduction to Oil Pipeline Development
A new agreement in Alberta, Canada, connects carbon management efforts to the construction of a new oil pipeline, aiming to mitigate emissions from oil extraction.
Editorial Staff May 17
Iran Faces Intensifying Energy Crisis Ahead of Summer Peak
As summer approaches, Iran's energy crisis deepens, prompting the implementation of emergency measures due to dwindling oil stockpiles.
Editorial Staff May 17
South Korea's Refining Capacity Offers Resilience to Oil Price Volatility
The substantial refining capacity in South Korea serves as a protective measure against the unpredictability of oil prices.
Editorial Staff May 17
Current Oil Prices: WTI at $101.02 and Brent at $109.26
Today's oil prices show notable shifts in the market, with WTI priced at $101.02 and Brent at $109.26.
Editorial Staff May 17
Iraq's Oil Exports Through the Strait of Hormuz Reach 10 Million Barrels in April
In April, Iraq successfully exported 10 million barrels of oil via the strategically important Strait of Hormuz, highlighting the ongoing significance of this maritime route.
Editorial Staff May 17
The Decline of America's Oil Era: Implications Ahead
As China leads the charge in the energy transition, the U.S. faces challenges from fossil fuel proponents seeking to hinder progress.
Editorial Staff May 17
Chevron Pursues Tax Incentives from School District for New Power Plant
Chevron is seeking tax breaks from a Texas school district for a data center power plant, potentially saving the company hundreds of millions amid increasing scrutiny of such incentives.
Editorial Staff May 17
Understanding the Importance of UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, is poised to enhance oil supply security for India and may influence global oil pricing dynamics.
Editorial Staff May 17
Understanding the Significance of the UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, is poised to have significant implications for India and the global oil market.
Editorial Staff May 17
Congress Seeks Clarity on Traders Making Profits Amid Iran Tensions
As traders reportedly profit from strategic bets related to Iran, Congress is questioning whether they had access to insider information about the oil market.
Editorial Staff May 17