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Crude Oil Prices Remain Elevated Amid Middle East Tensions and Hormuz Restrictions
Brent crude oil was near $109.33 and WTI near $102.40 as of May 15, up over 7% on the week, driven by heavily restricted Strait of Hormuz transits, rapid global inventory drawdowns, and reduced Saudi Arabian output. Oil markets continued to see volatility due to the unresolved situation in the Middle East.
Vantage Markets / FXEmpire · May 14, 2026
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US Stock Markets Hit Record Highs, Driven by Tech and AI Optimism
The S&P 500 climbed 0.8% to 7,501.24, setting an all-time high for a second straight day, while the Dow Jones Industrial Average rose 0.7% to 50,063.46. The Nasdaq Composite also advanced 0.9% to its own record, with gains fueled by strong earnings reports from companies like Cisco Systems and a rally in chipmaker Nvidia after the US cleared Chinese firms to buy its H200 AI chip.
AP News / TheStreet / The Times of India · May 14, 2026
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VLGC Spot Rates Soar to Record Levels Due to Strait of Hormuz Closure
US Gulf very large gas carrier (VLGC) freight rates climbed to a record $305/t on the Houston-Chiba route on May 13, the highest since Argus began assessments in 2013. This surge, with daily earnings spiking to nearly $170,000 per day, is attributed to a fundamental reshaping of global LPG trade patterns following the closure of the Strait of Hormuz.
Argus Media / IndexBox / Splash247 · May 13, 2026
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EU Carbon Allowance Prices Remain Firm Amid Policy Updates and Market Volatility
In May 2026, EU carbon allowance futures averaged EUR74.04 per tonne, a 5.7% increase from March, with prices trading between EUR74 and EUR77 per tonne. Market movements were influenced by volatile energy prices, Middle East tensions, and anticipation of EU ETS policy revisions, including updated reference values for 2026–2030 released by the European Commission on May 11.
IndexBox / GMK Center · May 14, 2026
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Russia Expands LNG 'Dark Fleet' Effort With a 19-Year-Old Tanker
A liquefied natural gas tanker, the Arctic Express, docked at a US-sanctioned storage unit in Russia's Murmansk region, marking its first loading of blacklisted fuel. This move, following the tanker's ownership change around May 13 to a St Petersburg-based company, signals Moscow's continued efforts to expand LNG exports despite Western sanctions.
Bloomberg / Energy Connects · May 13, 2026
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Natural Gas Futures Subdued Despite Strengthening Demand Ahead of Summer
The U.S. natural gas market remained well supplied heading into summer, keeping price growth modest despite signs of strengthening demand. After several weeks below $3, the Henry Hub prompt month rose to $3.11 per MMBtu on May 19, the highest price since mid-March, with the June contract expiring slightly above that mark on May 27.
EIA / DeGolyer & MacNaughton · May 14, 2026
