Oil Markets Stall as Iran Conflict Drags On Without Resolution

Key Details Oil prices remained flat on May 14 as the standoff in Iran showed no signs of ending after more than two months of conflict. Brent crude dropped 19 cents to $105.44 per barrel, while U.S. benchmark crude fell 16 cents to $100.86 per barrel. Prices have surged dramatically from around $70 before the war began in late February. Why It Matters The International Energy Agency warned that supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace. For trucking operations, sustained high fuel costs eat directly into margins and operational efficiency. Drivers and fleet managers continue facing fuel surcharges that impact bottom-line profitability. Diplomacy Updates President Trump and Chinese leader Xi Jinping met in Beijing, with both sides agreeing the Strait of Hormuz must reopen. U.S. officials hoped China's economic ties with Iran could help resolve the crisis. However, analysts expressed skepticism about major breakthroughs from the summit. Market Context Wall Street posted modest gains with S-P futures up 0.3% and Dow Jones futures climbing 0.7%. European markets also showed strength, with Britain's FTSE 100 rising 0.5% despite economic headwinds. Tech stocks benefited from AI infrastructure demand, with Cisco Systems jumping 15% after strong quarterly results.