Brent, WTI and Indian crude rebound Thursday on supply fears
NewsBytes | May 21, 2026 2:39 PM CST
Iran blocking Strait of Hormuz
A big reason is the U.S.-Iran conflict: Iran's been blocking the Strait of Hormuz, a key route for oil and LNG exports accounting for nearly 20% of global consumption, ever since strikes on Feb. 28 reignited tensions.
Plus, the US just pulled a record nearly 10 million barrels from its emergency oil stash last week.
Experts say price swings are likely to continue as long as these geopolitical risks stick around.
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