Brent Crude Above $110 in May 2026: UK Petrol Prices, Energy Bills and the Hormuz Effect
Brent crude surged above $110 per barrel in mid-May 2026 as renewed Strait of Hormuz tensions revived the energy supply risk premium. UK petrol prices typically follow Brent within two to four weeks, and household energy bills feed through via the Ofgem price cap quarterly reset.