You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Pares Back Gains As Trump Delays Resumption Of Iran Bombings Oil Pares Back Gains As Trump Delays Resumption Of Iran Bombings by Ship & Bunker News Team Monday May 18, 2026 Tweet Follow @shipandbunker Meanwhile, businesses and India report success in finding alternative crude sources: File Image/Pixabay Oil prices stayed on their upward course Monday with Brent closing around $112 per barrel due to uncertainty  over whether the U.S. and Iran would be able to negotiate a peace agreement; however, the gains were said to have been pared back post settlement when U.S. president Donald Trump called off planned attacks on Iran for Tuesday at the request of other Middle East countries. Trump told  reporters, “I was asked by Saudi Arabia , Qatar ,  United Arab Emirates and some others if we could put it off for two or three days, a short period of time, because they think that they are getting very close to making a deal, and if we can do that, where there’s no nuclear weapon going into the hands of Iran...” West Texas Intermediate rose 3 percent to close above $108 per barrel. “ We have not had any difficulty in getting the crudes which we want Vikas Kaushal, chairman, Hindustan Petroleum Corp Rebecca Babin , senior energy trader at CIBC Private Wealth Group, said of Monday’s trading, “Headlines remain the primary driver, but there is a growing focus on fundamentals as the market appears less stressed than many would have expected given the scale of supply disruption.” But although Jeff Currie , co-chairman of Abaxx Markets , told media the oil deficit that worried analysts for most of 2025 will become a shortage in