Historic reserve depletion and hardened diplomatic deadlock propel global crude benchmarks to massive weekly gains

18 May 2026 Crude futures secured massive double-digit weekly gains as a hardened US-Iran diplomatic deadlock compounded the historic exhaustion of global strategic reserves.

18 May 2026

Commodity Exchange: 18 May 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 18 May 2026 session with the following settlements.

15 May 2026 Brent NYMEX

Selective transit agreements and persistent maritime seizures leave global crude benchmarks flat

Crude futures settled flat as the politically negotiated transit of 30 vessels through the Strait of Hormuz was aggressively offset by ongoing kinetic vessel hijackings and a severe IMF global growth downgrade.

15 May 2026

Commodity Exchange: 15 May 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 15 May 2026 session with the following settlements.

14 May 2026 Brent NYMEX

Macroeconomic headwinds and Beijing summit drag Brent lower despite structural collapse of global supply balances

Crude futures retreated as US interest rate fears and a high-stakes Beijing summit overshadowed a massive 4.3 million-barrel domestic inventory draw and an IEA warning of an annual global supply deficit.

14 May 2026

EIA: Oil stocks sink as Iran conflict continues to drive stronger export-led draw

US commercial crude oil inventories fell sharply by 4.3 million barrels in the week ended 8 May to 452.9 million barrels, as the Iran war roiled oil markets and buyers increasingly turned to US barrels for supply.

14 May 2026

Commodity Exchange: 14 May 2026

Most actively traded petrochemical futures on the Dalian and Zhengzhou Commodity Exchanges wrapped up the 14 May 2026 session with the following settlements.

13 May 2026 Brent NYMEX

Global balances tightened further as EIA extends maritime blockade timeline and multi-million-barrel deficits compound

Crude futures rallied 4% as the EIA extended its Hormuz closure timeline through late May, compounding a massive 14-million-barrel-per-day supply gap and accelerating the structural drain on global inventories.

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