Oil prices extended their surge on Tuesday amid fresh doubts over the U.S.-Iran ceasefire. Brent crude futures for July delivery were up more than 3 percent at $107.47 a barrel, extending gains from the previous session on concerns that the Strait of Hormuz may stay effectively closed for an extended period. WTI crude futures for June delivery jumped 3.6 percent to $101.55. Supply concerns returne...
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Market Analysis
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.