 Brent Oil $117 — War in the Gulf of Oman Reshapes the Market in 48 Hours While the world watches negotiations, Iranian tankers are burning in the Gulf of Oman. I analyze the energy market situation as of May 8, 2026. Numbers: • Brent — $117.29 (data as of April 1), but after escalation it dropped to $101.75 (May 7) • Number of US rigs rose to 548 — Baker Hughes • Upstream market collapsed: deals from $32 billion (February) to $5.55 billion (March) What happened: The US struck two Iranian oil tankers in the Gulf of Oman — right during peace negotiations. In response, Iran seized a tanker carrying its own oil (sanctions have so muddled logistics that the country doesn't recognize its own vessels). The Strait of Hormuz — 20% of global oil supply — is effectively blocked. The market is in shock: WTI temporarily surpassed Brent in price, something not seen for years. What this means: For the energy sector — an era of extreme volatility. Swings of 8-12% per day are becoming the norm. For businesses — rising operational costs and an acute need for automated risk management. It is in moments like these that AI analytics becomes not a luxury but a necessity: to process data streams, predict scenarios, and make decisions in seconds, not hours. I will keep my finger on the pulse — the situation is developing hourly.