Crude oil futures settled higher on Monday, recovering well after sharp early losses, as traders looked ahead to the monetary policy decision of the Federal Reserve, and the meeting of the Organization of the Petroleum Exporting Countries and its allies.
The Federal Reserve is set to announce its policy decision on Wednesday. The central bank is widely expected to hike interest rate by 50 basis points. The bank's views on the economy and the outlook for future rate hikes are in focus.
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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.