Oil Holds Near $110 After Trump Delays Iran Strike

Oil prices steadied near $110 as Trump delayed planned action against Iran and Washington extended waivers for buyers of Russian crude.

Source OilPrice AI Summary Updated May 19, 2026

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Freshness Stale Updated May 19, 2026

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Oil prices steadied near $110 as Trump delayed planned action against Iran and Washington extended waivers for buyers of Russian crude. Historic SPR Drawdowns Propel US Crude to Global Markets - Record US SPR volumes are pushing out record volumes of US crude to the export markets, with May US oil exports potentially surpassing the 5.5 million b/d threshold for the first time in history. - A record 9.9 million barrels were drawn from the US Strategic Petroleum Reserve last week, lowering the total inventories held in US SPR sites to just 374 million…

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