Oil prices fluctuated sharply over the week of May 3–7 as the U.S.-Iran confrontation and reported disruptions near the Strait of Hormuz drove risk premiums higher across the crude complex, with June Oil – US Crude futures swinging between $88.66 and $107.46 before consolidating around $97, while benchmark Oil – Brent Crude also reflected heightened sensitivity to potential supply interruptions and shifting diplomatic signals.
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Over the past month, Brent has advanced about 8.9%, outpacing U.S. crude’s roughly 1.8% gain and underscoring stronger risk pricing for seaborne barrels, while daily technical indicators currently show a Buy bias for WTI and a parallel Buy signal for Brent, suggesting short-term momentum remains constructive despite elevated volatility. Investors can explore more updates, prices, and analysis across global markets at Commodities.