Oil prices traded lower on Friday and were on course to end a seven-week winning streak on worries surrounding the Chinese economy and fears of interest rates remaining higher for longer. Benchmark Brent crude futures dropped half a percent to $83.72 a barrel, while WTI crude futures were down 0.3 percent at $80.12.Both contracts are on track to lose over 3 percent this week, after having rallied ...
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.