After skyrocketing early in the session, the price of crude oil has given back ground over the course of the trading day on Monday but remained sharply higher.
WTI Crude Oil for April delivery was last seen trading up by $3.11 (or 3.42%) at $94.01 per barrel after soaring above $100 a barrel for the first time since 2022 earlier in the day.
Crude oil has extended its recent surge as the ongoing U.S.-Israeli war with Iran has brought global energy supply to a grinding halt.
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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.