Oil prices traded lower on Thursday as the glut narrative regained control despite ongoing geopolitical tensions.Benchmark Brent crude futures dipped 0.6 percent to $64.87 a barrel after the International Energy Agency (IEA) said it expects global oil markets to remain well supplied in 2026. WTI crude futures were down 0.7 percent at $60.20. The American Petroleum Institute (API) estimated that cr...
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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.