As of 10:55 Kyiv time on May 12, oil quotes are showing another increase. According to Trading Economics, Brent crude is trading at $106.4 per barrel, while WTI is priced at $100.6 per barrel.
This is reported by Finway
Price dynamics and influencing factors
On the morning of the previous day, May 11, Brent prices fluctuated between $103 and $105 per barrel. At that time, WTI was priced between $96.5 and $100 per barrel. Experts associate the slight but steady increase in oil prices with the fragility of the announced ceasefire between the US and Iran, as well as the lack of progress in peace negotiations.
“Optimism regarding a near-term (peace) agreement seems to be fading again, and if we do not see a deal by the end of May, the risks of rising oil prices will certainly be on the agenda,” said Suvro Sarkar, head of the energy sector team at DBS Bank, to Reuters.
Market outlook and analysts’ expectations
US President Donald Trump stated that the ceasefire with Iran is on “artificial life support,” noting significant discrepancies regarding key demands in the negotiations.
Analysts predict that if a breakthrough is achieved in reaching a peace agreement, oil prices could drop by $8–12 per barrel. At the same time, any escalation of the conflict or a resurgence of threats to block the Strait of Hormuz could potentially push Brent quotes back above $115 per barrel.