Oil Price Today (May 18): Crude oil above $110 again as Iran war tensions deepen. Where is liquid gold headed?

May 18, 2026

Oil prices climbed on Monday. Hopes for peace with Iran dimmed after an attack on a UAE nuclear plant. President Trump is reviewing military actions. Drone attacks on the UAE and Saudi Arabia increased fears of wider conflict. The Strait of Hormuz remains a key concern for global oil and gas shipments.

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