Oil prices continued to move higher on Monday as the U.S.-Israel war with Iran entered its third week, triggering the largest disruption to global oil markets in history.
Global oil supply could go down by 8 million barrels a day in March, or around 8 percent of worldwide demand, according to the International Energy Agency, which is coordinating the biggest emergency release of oil stocks since it was created in the 1970s during the Arab oil embargo.
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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.