FXEmpire
18 May 2026, 08:42 UTC · 3d ago
Source · https://www.fxempire.com/forecasts/article/natural-gas-and-oil-forecast-hormuz-crisis-keeps-wti-at-102-can-bulls-push-to-105-1598439
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Story key points
4 claims · impact-rated
The Strait of Hormuz is experiencing a near-shutdown, removing approximately 20% of global seaborne crude supply from markets. — A massive supply shock of 20% of global seaborne oil is a primary catalyst for sharp price increases in crude oil.
+0.90Iraqi crude exports have collapsed by up to 90% due to the U.S.-Iran confrontation. — The near-total loss of a major producer's exports exacerbates the global supply deficit and supports higher oil prices.
+0.80WTI crude has reclaimed $102 with technical support holding at $100.65, while Brent holds an ascending channel support near $110. — Strong technical foundations at high price levels suggest continued bullish momentum for oil assets.
+0.40Search tags
U.S. natural gas inventories are well above the five-year average, reaching 2,290 Bcf as of May 8. — High inventory levels relative to historical averages typically exert downward pressure on natural gas prices.
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Model heads
Reported to be falling in the Nasdaq 100.
Reported to be slipping in the Nasdaq 100.
Mentioned in relation to a slight increase in the U.S. oil rig count.
Mentioned in the context of an upcoming earnings call, creating a neutral-to-positive watch sentiment.
Mentioned as diverging in the Nasdaq 100, but no specific direction of movement given.
Mentioned as diverging in the Nasdaq 100, but no specific direction of movement given.
No ticker relationship head found.
