Oil prices rose sharply on Monday on rising tensions in the Middle Ease due to recent attacks on ships crossing the Red Sea.
The attacks on Red Sea shipping by Houthi militants in Yemen have forced the suspension of some shipments through the Suez Canal, raising supply concerns.
According to reports, five of the world's six largest shipping companies have announced they will not send ships through the Red Sea. British oil giant BP and Taiwan's Evergreen became the latest to suspend transit.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.