Global Markets – Web Desk (May 18, 2026): Oil prices have surged once again in the international market amid renewed tensions between the United States and Iran, according to energy market reports.
Brent crude oil is now being sold at 111perbarrel,whileWestTexasIntermediate(WTI)istradingat111perbarrel,whileWestTexasIntermediate(WTI)istradingat107 per barrel. Additionally, Murban crude oil prices have reached $108 per barrel.
The price hike follows earlier increases triggered by former US President Donald Trump’s rejection of Iranian proposals and ongoing uncertainty over the reopening of the Strait of Hormuz. The strategic waterway remains a flashpoint for global energy supplies, with any disruption directly impacting crude prices worldwide.
Energy analysts warn that further escalation between Washington and Tehran could push prices even higher, potentially impacting fuel costs for consumers across the globe, including Pakistan.
