Oil prices soared on Thursday, extending gains from the previous session amid tanker attacks in Iraqi waters, strikes across Lebanon, and growing fears of prolonged economic disruption.
Brent crude prices last traded up nearly 7 percent at $98.23 a barrel after surging past $100 a barrel early in the day. WTI crude futures were up 6 percent at $92.42 after hitting a high of $95.96 earlier.
As the U.S. campaign of airstrikes in Iran entered its 13th day, there were no signs the conflict was subsiding.
For comments and feedback contact: editorial@rttnews.com
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.