Brent Holds $105.76/bbl on Hormuz Risks; Wolfe Warns CB Errors as ECB, BoJ Flag Hikes
Brent crude held at $105.76/bbl and WTI at $101.14/bbl on May 14 amid Strait of Hormuz tensions ahead of Trump-Xi summit, with Nuvama estimating $110–$150/bbl if shutdowns disrupt 20M bpd. The surge built on May 13 ECB warnings from Rehn against oil-driven policy and Lane signaling June hikes for Iran shock, plus IMF recession risks at $120–$130/bbl through 2027. May 14 saw BoJ's Masu warn of a crisis worse than 1973 for import-reliant Japan, ECB's Kazaks flag hikes on deteriorating expectations, and Wolfe highlight central bank policy errors amid tightening pressures.