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Crude Oil Crashes 14% from May 18 Peak, Rebounds Over 1% on May 26

GateNews
Commodities

According to China Securities Journal, crude oil prices plummeted from their May 18 high, with both NYMEX WTI and Brent futures falling over 14% by May 26. As of May 26, both contracts posted intraday gains exceeding 1%. Geopolitical tensions in the Middle East remain a key driver of oil price swings.

The sharp decline reflects a reshaped supply-demand dynamic. Global crude production has contracted significantly, inventories continue falling, while demand declines remain limited, creating a structural supply deficit that provides underlying support for prices in the medium term.

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