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Oil slips while gas holds steady as Iran ceasefire hopes collide with Strait of Hormuz uncertainty
Economy
Published on 14 May 2026
Strait of Hormuz risk still props prices near $100
Oil prices eased after three days of gains as traders digested a fragile Iran ceasefire and the upcoming Trump-Xi meeting in Beijing. Brent futures fell to about $106.91 a barrel and WTI to around $101.14, with markets remaining jittery about potential supply disruptions tied to the Strait of Hormuz, a key shipping chokepoint. Natural gas in Europe stayed largely stable as some LNG resumed, yet buyers were cautious because storage levels remain low. Analysts expect volatility to persist with geopolitics and inventories.
- Brent crude futures fell 86 cents to $106.91 per barrel
- WTI futures dropped $1.04 to $101.14 per barrel
- Oil slipped after a three-day rally tied to ceasefire optimism
- Strait of Hormuz risk keeps prices supported near the $100 level
- European LNG prices stayed steady as shipments resumed but demand stayed cautious
- Supply disruption losses from the conflict exceed one billion barrels
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times