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Crude Oil Hits $120 Per Barrel on Supply Concerns, U.S. Inventory Falls for Fifth Consecutive Week

GateNews

2026-05-20 09:25:49

According to Citi on May 20, Brent crude oil is expected to rise to $120 per barrel in the near term, with the bank noting that oil markets may be underestimating the risk of prolonged supply disruptions. Data released by the American Petroleum Institute showed U.S. crude inventory fell for the fifth consecutive week, with fuel stockpiles also declining. Meanwhile, the U.K. has eased sanctions to allow imports of diesel and jet fuel refined from Russian crude overseas.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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WTI and Brent Crude Futures Fall on May 20 Close; WTI Down 0.82%

WTI, Brent Crude Both Rise 2% Intraday; WTI Hits $108.41

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The probability of a Fed rate cut in June is approaching zero, as the market prices in a 66.9% chance of zero rate cuts within the year

Gate Instant Trends05-19 07:37

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