Oil prices held steady on Friday but were on track for hefty weekly gains due to severe disruption in tanker traffic through the Strait of Hormuz.
Benchmark Brent crude futures were little changed after climbing above $85 a barrel on Thursday amid the worsening conflict in the Middle East.
WTI crude futures were up 0.6 percent at $81.47 after climbing 8.5 percent on Thursday following reports that Iran struck a U.S. oil tanker in the northern Persian Gulf.
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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.