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Oil News: WTI Crude Oil Futures Eye $100 Breakdown as Hormuz Risks Ease

By
James Hyerczyk
Updated: May 14, 2026, 13:21 GMT+00:00

Key Points:

  • WTI crude oil futures threaten a break below $100 as Hormuz shipping slowly resumes.
  • Global oil inventories are draining fast with over 14 million bpd of supply disrupted.
  • Trump and Xi pushed to keep the Strait of Hormuz open for global energy flows.

June WTI Threatens $100 as the Strait Slowly Cracks Open

June WTI crude oil futures are trading near $101.00 Thursday and the psychological $100 level is under threat for the first time since the rally began. That is not a minor technical development. If Trump and Xi found a way to move the Strait of Hormuz conversation forward in Beijing, this could be the session that changes the near-term picture.