Oil at $110 as Trump Postpones Iran Attack: Why This Week Is the Most Dangerous for Energy Prices Since the War Began

# Oil at $110 as Trump Postpones Iran Attack: Why This Week Is the Most Dangerous for Energy Prices Since the War Began

> **Quick answer:** Brent crude hit $110.60 per barrel this week after Trump postponed a scheduled military strike on Iran at the request of Gulf Arab allies. Global oil supply is disrupted at the largest scale in recorded history, with 14 million barrels per day shut in. This week is binary: a successful deal sends prices back toward $85-90, while a failed deal and "full, large-scale assault" could drive Brent to $130 or higher.

Oil prices $110 Iran deal risk May 2026 — those five words summarize the most consequential week for energy markets since the Iran war began in February. With a postponed attack, a stalled peace framework, and the Putin-Xi summit reshaping the geopolitical backdrop, every piece of news this week carries a price tag measured in dollars per barrel and cents per gallon at the pump.

*This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

## What Happened: Trump's "Scheduled Attack" and the 48-Hour Window

On Monday, May 19, 2026, President Trump announced he had cancelled what he described as a "scheduled attack of Iran" set for Tuesday. The cancellation came at the direct request of the leaders of Qatar, Saudi Arabia, and the United Arab Emirates, who told Trump that "serious negotiations are underway" that will result in a deal acceptable to the United States.