Oil Price Today (May 19): Crude oil retreats from $110 as Trump delays planned strike on Iran. Where are prices headed?

May 19, 2026

Oil prices dipped Tuesday after President Trump delayed a planned military strike on Iran, following appeals from Middle Eastern leaders. This de-escalation eased immediate concerns over global crude supply disruptions. Analysts warn that a prolonged closure of the Strait of Hormuz could still impact markets significantly.

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