The easing in crude oil prices continued unabated on Monday with both Brent and WTI shedding a little less than a quarter percent. The sentiment is attributed to the prospect of peace in Eastern Europe, as talks to end the war between Russia and Ukraine are expected to begin in Saudi Arabia later in the week. Supply concerns are expected to ease if an end to the war also portends a reversal of sanctions on Russia and an easier flow of Russian crude oil to the global markets.
The easing in the prices of the black liquid comes also amidst the Dollar's strength. The Dollar Index which measures the U.S. Dollar's strength against a basket of 6 currencies is currently at 106.83 versus 106.71 at close on Friday.
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Business News
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.