# Oil prices rise 3% to two-week high on Iran war supply concerns | Reuters

> Oil rose about 3% to a two-week high on Iran war supply concerns, with Brent for July settling at $112.10 and WTI June at $108.66. The IEA said commercial oil inventories had only a few weeks of supply left due to the near-closure of the Strait of Hormuz.

- Date: 2026-05-17 · published 2026-05-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Severe inventory depletion signals tight physical crude, raising energy, freight and fertilizer costs for feed producers. Higher energy prices also support biofuel-linked demand for vegetable oils.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -10.5% | -9.7% |
| WTI | 2025-02-19 | [Oil holds near one-week high on supply concerns, sanctions on Russia eyed \| Reuters](https://feedsoft.ai/events/26210-oil-holds-near-one-week-high-on-supply-concerns-sanctions-on-russia-eyed-reuters.md) | -4.2% | -6.7% |
| WTI | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +9.3% | +3.6% |
| WTI | 2024-03-19 | [Oil rises to multi-month highs on Russian supply concerns](https://feedsoft.ai/events/31370-oil-rises-to-multi-month-highs-on-russian-supply-concerns.md) | -1.3% | +3.1% |
| WTI | 2026-01-12 | [Oil prices settle at 7-week high on worries about Iran exports \| Reuters](https://feedsoft.ai/events/11391-oil-prices-settle-at-7-week-high-on-worries-about-iran-exports-reuters.md) | +0.7% | +9.3% |
| BRENT | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -9.7% | -11.0% |
| BRENT | 2025-02-19 | [Oil holds near one-week high on supply concerns, sanctions on Russia eyed \| Reuters](https://feedsoft.ai/events/26210-oil-holds-near-one-week-high-on-supply-concerns-sanctions-on-russia-eyed-reuters.md) | -4.1% | -6.4% |
| BRENT | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +12.0% | +18.6% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-more-than-1-after-drone-attack-uae-nuclear-power-plant-2026-05-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.