Crude Oil Stays Above $100 as Middle East Tensions Persist

Key Details Benchmark U.S. crude fell 41 cents to $103.97 per barrel on May 19, while Brent crude dipped to $111.15. Oil prices have remained stubbornly elevated above $100 throughout the month as geopolitical uncertainty continues to shake energy markets. Why It Matters The closure of the Strait of Hormuz by Iran has disrupted global oil flows, affecting countries like Japan that depend heavily on imported crude. This supply concern is driving prices higher despite President Trump's announcement that military action is on hold pending negotiations. Impact on Your Wallet Gasoline prices climbed to $4.53 per gallon according to AAA, representing a 43% increase year-over-year. For owner-operators and fleet managers, fuel costs remain a significant operational expense as the unofficial U.S. driving season begins May 25. Market Outlook Wall Street faced headwinds early in the trading week, with futures across major indices showing losses. Global markets remained mixed, with Asian tech stocks taking particular hits. The ongoing conflict and its market impact underscore the importance of monitoring geopolitical developments alongside fuel prices.