Crude oil prices rose sharply on Tuesday, extending gains from the previous session, with traders continuing to bet on hopes the OPEC+, which is scheduled to meet on Wednesday, will agree to a large cut in crude output.
The dollar's continued weakness amid expectations the Fed might turn less aggressive with regard to interest rate hikes after data showed a bigger than expected drop in the pace of manufacturing activity in the U.S. last month.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.