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Oil prices dip as US pauses Iran strike, but supply risks keep market tense and bullish.

Market News
19 May 2026
FXEmpire
View Source
Bullish
pluang ai news

Oil prices fell after the US halted military action against Iran, easing war-risk premiums temporarily. However, the closure of the Strait of Hormuz and declining oil inventories continue to support a bullish trend. Technical analysis shows WTI and Brent need to break above $120 to confirm a strong upward move, with potential targets at $125-$150 for WTI and $127-$150 for Brent. The market remains volatile, driven by geopolitical tensions and tight supply conditions.

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