Why Oil Hasn’t Hit $150—Yet
Oil prices have not reached the expected $150 per barrel despite a total closure of the Strait of Hormuz. Analysts attribute this to higher-than-anticipated inventory levels that have acted as a buffer. However, as inventories decline, the market may face significant challenges in the future.
- ▪Oil is currently trading at just over $100 a barrel, which is lower than expected given the closure of the Strait of Hormuz.
- ▪Global commercial stocks have been drawing down, with OECD inventories now below their five-year average.
- ▪The perception that OPEC has spare capacity has also contributed to the restrained price increase.
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| Original publisher | Forbes — Business |
| Canonical URL | https://www.forbes.com/sites/rrapier/2026/05/18/why-oil-hasnt-hit-150-yet/ |
| Publication time | Mon, 18 May 2026 09:52:11 -0400 |
| Retrieval time | 2026-05-18T14:19:56.605Z |
| Last seen | 2026-05-18T14:19:56.605Z |
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Opening excerpt (first ~120 words) tap to expand
BusinessEnergyWhy Oil Hasn’t Hit $150—YetByRobert Rapier,Senior Contributor.Forbes contributors publish independent expert analyses and insights. Robert Rapier is a chemical engineer covering the energy sector.Follow AuthorMay 18, 2026, 09:52am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.TOPSHOT - In this picture obtained from Iran's ISNA news agency on May 4, 2026, vessels are pictured anchored in the Strait of Hormuz off Bandar Abbas in southern Iran. Iran's Revolutionary Guards on May 4 denied that any commercial ships had crossed the Strait of Hormuz, after the US military earlier said two US-flagged merchant vessels had transited through the vital waterway.
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