Oil Prices Update as of May 18, 2026
Stay informed with the latest updates on oil prices as reported by Fortune on May 18, 2026.
Editorial Staff May 18
Oil & Gas
Latest Oil & Gas stories from Energy.
Exploring Future Trends in Oil Pricing: Three Possible Scenarios
Morningstar Canada examines three potential scenarios that could influence the direction of oil prices in the coming months.
Editorial Staff May 18
Understanding the Significance of the UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, could have significant implications for oil supply security in India and the dynamics of global oil markets.
Editorial Staff May 18
BP Reassesses Strategy, Returns to Core Oil and Gas Focus
In light of evolving market conditions, BP is redirecting its strategy to prioritize traditional oil and gas operations, signaling a notable shift in its business approach.
Editorial Staff May 17
Chevron's Stock Rises 5.2% Following ENEOS Asset Sale and Oil Market Boost
Chevron's recent stock increase of 5.2% can be attributed to its strategic sale of assets in Asia to ENEOS, coupled with favorable conditions in the oil market.
Editorial Staff May 17
France Considers Windfall Tax on TotalEnergies in Response to Rising Oil Prices
Amidst soaring oil prices, the French government is contemplating a windfall tax on TotalEnergies, aiming to mitigate the impact on consumers.
Editorial Staff May 17
Alberta's New Carbon Deal Links Emissions Reduction to Oil Pipeline Development
A new agreement in Alberta, Canada, connects carbon management efforts to the construction of a new oil pipeline, aiming to mitigate emissions from oil extraction.
Editorial Staff May 17
Iran Faces Intensifying Energy Crisis Ahead of Summer Peak
As summer approaches, Iran's energy crisis deepens, prompting the implementation of emergency measures due to dwindling oil stockpiles.
Editorial Staff May 17
South Korea's Refining Capacity Offers Resilience to Oil Price Volatility
The substantial refining capacity in South Korea serves as a protective measure against the unpredictability of oil prices.
Editorial Staff May 17
Iraq's Oil Exports Through the Strait of Hormuz Reach 10 Million Barrels in April
In April, Iraq successfully exported 10 million barrels of oil via the strategically important Strait of Hormuz, highlighting the ongoing significance of this maritime route.
Editorial Staff May 17
The Decline of America's Oil Era: Implications Ahead
As China leads the charge in the energy transition, the U.S. faces challenges from fossil fuel proponents seeking to hinder progress.
Editorial Staff May 17
Chevron Pursues Tax Incentives from School District for New Power Plant
Chevron is seeking tax breaks from a Texas school district for a data center power plant, potentially saving the company hundreds of millions amid increasing scrutiny of such incentives.
Editorial Staff May 17
Understanding the Importance of UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, is poised to enhance oil supply security for India and may influence global oil pricing dynamics.
Editorial Staff May 17
Understanding the Significance of the UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, which bypasses the Strait of Hormuz, is poised to have significant implications for India and the global oil market.
Editorial Staff May 17
Understanding the Significance of UAE's New Oil Pipeline for India and Global Markets
The UAE's new oil pipeline, designed to bypass the Strait of Hormuz, holds significant implications for India and the global oil market, potentially altering supply dynamics.
Editorial Staff May 17
Occidental Petroleum's Strategic Moves Amid Rising Oil Prices and UAE Partnership
Occidental Petroleum is navigating a landscape of rising oil prices while focusing on debt reduction and forming a new partnership in the UAE, set for 2026.
Editorial Staff May 17
Nabors Industries' Valuation Insights Amid Rising Oil Prices and Strong Q1 Earnings
This editorial examines the valuation of Nabors Industries following the recent increase in oil prices and the company's impressive earnings report for the first quarter of 2026.
Editorial Staff May 17
Economists Predict Persistent High Gas Prices Through Summer Travel Season
Despite an increase in U.S. oil production, economists forecast that higher gas prices will likely continue into the summer travel season, impacting travel plans.
Editorial Staff May 17
Canada and Alberta Forge Carbon Compromise, Opening Doors for Major Oil Pipeline
A new agreement between Canada and Alberta could significantly influence the energy sector by facilitating the construction of a major oil pipeline.
Editorial Staff May 17
Impact of Oil Price Fluctuations and Geopolitical Tensions on Land-Rig Contractors
An examination of how changing oil prices and ongoing geopolitical conflicts are likely to influence the financial landscape for land-rig contractors in the coming years.
Editorial Staff May 16