Oil prices rose on Friday after the highest-level talks between Russia and Ukraine since the start of the war failed to yield progress and Russia warned Europe of 'wave of consequences' against massive Western sanctions.
U.S. President Joe Biden is set to call for an end to normal trade relations with Russia as the Senate passed a $1.5 trillion funding bill Thursday night to keep the government running through September and bolster both humanitarian and military efforts in Ukraine.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.