Following the surge seen over the final two sessions of last week, the price of crude oil pulled back sharply during trading on Monday.Crude for May delivery plunged $1.60 or 2.5 percent to $63.08 a barrel after soaring $3.35 or 5.5 percent to $64.68 last Wednesday and Thursday.The steep drop by the price of crude oil came amid reports of progress in negotiations between the U.S. and Iran, with a ...
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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.