As of May 20, 2026, the price of Brent crude oil stands at $110.03 per barrel, while WTI is priced at $103.38 and Urals at $102.47. These prices have dropped following Donald Trump's statements about the rapid conclusion of the war with Iran, but investors remain concerned about potential supply disruptions from the Middle East. This information comes from [source]. ### Today's Oil Prices (Brent, WTI, and Urals) - May 20 | Type of Oil | Price | Change (%) | |-------------|-------|------------| | Brent | $110.03 | -0.27% | | WTI | $103.38 | +0.18% | | Urals | $102.47 | +1.46% | Futures for Brent crude fell by 88 cents, or 0.8%, to $110.40 per barrel, while futures for West Texas Intermediate declined by 67 cents, or 0.6%, to $103.48. The day before, on Tuesday, May 19, both benchmarks had also dropped by nearly a dollar. This downturn was prompted by comments from U.S. Vice President Jay D. Vance about progress in negotiations between Washington and Tehran, as well as uncertainty regarding the resumption of full-scale military action. ### Reasons for Price Changes According to Reuters, prices fell after President Donald Trump reiterated that the war with Iran would end "very quickly." Despite this claim made to lawmakers late Tuesday regarding a swift resolution to the conflict, he had previously mentioned the possibility of a new strike against Iran. He stated that he was one hour away from ordering an attack before postponing it. These remarks came a day after reports of a ceasefire due to a new proposal from Tehran regarding the cessation of the U.S.-Israeli conflict. Trump also claimed that Iranian leaders are pleading for a deal and warned of a new strike in the coming days if an agreement is not reached. Meanwhile, on Tuesday, Citi announced that it expects the price of Brent crude to rise to $120 per barrel soon. The bank believes that oil markets are underestimating the risk of prolonged supply disruptions. Emríl Jamil, a senior oil research analyst at LSEG, indicated that the base prices have fallen due to the potential agreement, as the market assesses geopolitical outcomes. However, he added that prices are still likely to exhibit growth potential even in the event of an agreement, as supply will not immediately return to pre-war levels. It is worth noting that President Donald Trump's provocative statements regarding Iran have already caused a surge in international quotations. In contrast, the situation at Ukrainian gas stations is different; fuel prices for gasoline, diesel, and autogas are showing mixed dynamics, with analysts predicting further declines in fuel costs.